Codestone

Category: ERP Software

SAP is one step closer to adding SuccessFactors to its list of subsidiaries after permission for a takeover was granted.

The German Federal Cartel Office has confirmed that the organisation can go through with its previously announced plans to acquire the technology brand.

It outlined details, which included a price of $40 (£25.92) per share, while the US Department of Justice also helped to speed up the process by agreeing to an early termination of a rule under the Hart-Scott-Rodino Antitrust Improvements Act that forces companies to undergo a waiting period prior to completing acquisitions.

SAP has overcome many of the hurdles in its way and the deal is now subject to terms and conditions detailed in the Offer to Purchase document.

Earlier this week, SAP revealed it is planning to add datango – a company that creates workforce management solutions – to its portfolio by launching a takeover bid.

Posted by Jack Gilbert