SAP snaps up OutlookSoft
SAP AG is to acquire the American business intelligence software maker OutlookSoft Corporation for an undisclosed sum.
Connecticut-based OutlookSoft provides financial software that includes integrated planning, budgeting, forecasting and consolidation applications to a global client-base of 700 customers. SAP will integrate the software into its Netweaver product line.hi
SAP aims to close the deal with the firm next month, pending approval from anti-trust authorities.
OutlookSoft CEO Phil Wilmington said in a statement: "This is an exciting time for our customers and partners, as we combine the business process expertise and technology platform from SAP with the usability and deep functionality of OutlookSoft's performance management application."
No details were released on what the acquistion will mean for OutlookSoft's 250-plus staff who are based in the US, UK, France, Switzerland and Italy.
"OutlookSoft brings the people, intellectual property and expertise that will enhance the SAP business user experience and add value for a strong cross-section of our customer base," said SAP's head of business user development Doug Merritt.
Shares in SAP are currently trading at $47.79 up 1.44 per cent on the New York Stock Exchange. ®