Monday, October 8, 2007

SAP Buys Business Objects For $6.8B

SAP AG and San Jose-based Business Objects said Sunday that the two are in an agreement where SAP will pay $6.8B for Business Objects. The all-cash deal has been approved bu the Business Objects board of directors, the firm said. SAP CEO Henning Kagermann said that the move was part of a strategy to double the firm's addressable market by 2010. The deal is expected to close in the first quarter of 2008.