SAP SE

  • WKN: 716460
  • ISIN: DE0007164600
  • Land: Deutschland

Nachricht vom 03.12.2011 | 18:01

SAP AG: SAP to Accelerate Cloud Strategy with Agreement to Acquire SuccessFactors


SAP AG  / Key word(s): Mergers & Acquisitions/Offer

03.12.2011 18:01

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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WALLDORF, Germany and SAN MATEO, California - December 3, 2011 - SAP AG
(NYSE: SAP) and SuccessFactors, Inc. (NYSE: SFSF) today announced that
SAP's subsidiary, SAP America, Inc., has entered into a definitive merger
agreement with SuccessFactors, the market-leading provider of cloud-based
human capital management (HCM) solutions, pursuant to which a subsidiary of
SAP would offer to acquire all outstanding shares of common stock of
SuccessFactors for $40.00/per share in cash, representing an enterprise
value of approximately $3.4 billion. The acquisition will add
SuccessFactors' widely respected team and technology to SAP's powerful
cloud assets, significantly accelerating SAP's momentum as a provider of
cloud applications, platforms and infrastructure.  The combination of SAP
and SuccessFactors will establish an advanced end-to-end offering of cloud
and on-premise solutions for managing all relevant business processes.

The SuccessFactors board of directors has unanimously approved the
transaction. The per share purchase price represents a 52% premium both
over the December 2nd closing price and the one month volume weighted
average price per share. The transaction will be funded from SAP's cash on
hand and a EUR1 billion term loan facility.  The closing of the tender
offer is conditioned on SuccessFactors stockholders tendering at least a
majority of the outstanding shares of SuccessFactors common stock (on a
fully diluted basis) and clearances by relevant regulatory authorities. The
transaction is expected to close in the first quarter of 2012 and be
slightly dilutive to SAP's Non-IFRS earnings per share in 2012 and
accretive in subsequent years.


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Information and Explaination of the Issuer to this News:

This announcement is neither an offer to purchase nor a solicitation of an
offer to sell securities.  The tender offer for the outstanding shares of
SuccessFactors common stock described in this announcement has not
commenced.  At the time the offers are commenced SAP America, Inc. and
Saturn Expansion Corporation, an indirect subsidiary of SAP AG, will file a
Schedule TO Tender Offer Statement with the Securities and Exchange
Commission, and SuccessFactors, Inc. will file a Schedule 14D-9
Solicitation/Recommendation Statement with respect to the offer.  The
Tender Offer Statement (including an offer to purchase, a related letter of
transmittal and other offer documents) and the Solicitation/Recommendation
Statement will contain important information that should be read carefully
before any decision is made with respect to the Tender Offer.  Those
materials and other documents filed by SAP AG, SAP America, Inc., Saturn
Expansion Corporation or SuccessFactors with the SEC will be available at
no charge on the Securities and Exchange Commission's web site at
www.sec.gov.  The Schedule TO Tender Offer Statement and related materials
may be obtained for free by directing such requests to SAP AG, Attention:
Stefan Gruber, Dietmar-Hopp-Allee 16, 69190 Walldorf, Germany, Telephone: 
+49 6227 744872.  The Schedule 14D-9 Solicitation/Recommendation Statement
and such other documents may be obtained for free by directing such
requests to SuccessFactors Global Headquarters, Attention: Hillary Smith,
1500 Fashion Island Blvd. Suite 300, San Mateo, CA 94404, USA, Telephone +1
(650) 645-2000.

This release contains forward-looking statements that involve risks and
uncertainties concerning the parties' ability to close the transaction and
the expected closing date of the transaction, the anticipated benefits and
synergies of the proposed transaction, anticipated future combined
operations, products and services, and the anticipated role of
SuccessFactors, Inc., its key executives and its employees within SAP
following the closing of the transaction. Actual events or results may
differ materially from those described in this release due to a number of
risks and uncertainties. These potential risks and uncertainties include,
among others, the outcome of regulatory reviews of the proposed
transaction, the ability of the parties to complete the transaction, the
failure to retain key SuccessFactors employees, customer and partner
uncertainty regarding the anticipated benefits of the transaction, the
failure of SAP and SuccessFactors to achieve the anticipated synergies of
the proposed transaction and other risks detailed in SAP's and
SuccessFactors's SEC filings, including those discussed in SAP's annual
report on Form 20-F for the year ended December 31, 2010 and
SuccessFactors' quarterly report on Form 10-Q for the quarter ended
September 30, 2011, each of which is on file with the SEC and available at
the SEC's website at www.sec.gov. Neither SAP nor SuccessFactors is
obligated to update these forward-looking statements to reflect events or
circumstances after the date of this document.  Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak
only as of their dates.


Financial Analyst and Media Conference Call

SAP and SuccessFactors will host two conference calls for financial
analysts and media to discuss the transaction:
On Saturday, December 3rd, at 7:00 pm CET / 1:00 pm Eastern (Dial-in
numbers: Germany: +49 69 5899 90797, UK: +44 20 7190 1595, US: +1 480 629
9771; Replay numbers: UK +44 207 154 2833, US +1 303 590 3030, Germany +49
69 58 99 90 568, Access Code: 4493863#)
On Monday, December 5th, at 3:00 pm CET / 9:00 am Eastern (Dial-in numbers:
Germany: +49 69 5899 90797, UK: +44 20 7190 1595, US: +1-480 629 9722,
Conference ID: 4493869; Replay Numbers: UK +44 207 154 2833, US +1 303 590
3030, Germany +49 69 58 99 90 568, Access Code: 4493869#)


For more information, press only:
Christoph Liedtke, +49 6227 7-50383, christoph.liedtke@sap.com; CET
Jim Dever, +1 (610) 661-2161, james.dever@sap.com; EDT
Andrea Meyer, SuccessFactors, +1 (415) 370-7329, ameyer@successfactors.com;
PST
SAP Press Office, +49 (6227) 7-46315, CET; +1 (610) 661-3200, EDT;
press@sap.com

For more information, financial community only:
Stefan Gruber, +49 6227 7-44872, investor@sap.com; CET

03.12.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      SAP AG
              Dietmar-Hopp-Allee 16
              69190 Walldorf
              Germany
Phone:        +49 (0)6227 - 74 74 74
Fax:          +49 (0)6227 - 75 75 75
E-mail:       investor@sap.com
Internet:     www.sap.com
ISIN:         DE0007164600
WKN:          716460
Indices:      DAX
Listed:       Regulierter Markt in Berlin, Frankfurt (Prime Standard),
              Stuttgart; Freiverkehr in Düsseldorf, Hamburg, Hannover,
              München; Terminbörse EUREX; NYSE
 
End of Announcement                             DGAP News-Service
 
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