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October 29, 2012
SAP Confidence on Future - Expanding Cloud Business
By Tracey E. Schelmetic, TMCnet Contributor
In fact, the company may be able to sustain high sales from software and related services for a "very long time," co-chief executive Bill McDermott recently told a German newspaper.
"It's our ambition to grow with double-digit numbers for a very long time to come," Euro am Sonntag quoted McDermott as saying in an interview published on Sunday. "I believe that's possible."
The newspaper also cited the co-CEO as saying SAP currently has no plans for further acquisitions following the purchases of cloud-computing company Ariba and Success Factors.
SAP, the world's biggest maker of business software, said it sees full-year revenue from software and software-related services growing by between 10.5 and 12.5 percent. In July, when it was waiting for approval of its $4.3 billion acquisition of Ariba, SAP had said 2012 revenue would rise 10 to 12 percent, according to Reuters.
The company’s confidence may come from its growing cloud portfolio. SAP’s recent acquisition of Ariba into the SAP family has reportedly accelerated SAP’s cloud growth strategy. During its third quarter earnings phone call, SAP said the company had raised to $4.3 billion its 2012 software revenue outlook to reflect gains from Ariba.
SAP’s vision for the cloud is to enable customers to reach their business objectives and help them manage their most important assets – people, money, customers and suppliers – and Ariba has been pivotal in helping drive SAP’s cloud strategy, said the company in a recent statement.
Edited by Braden Becker
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