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SAP aims to double its customer base by 2010

SAP offers £3bn for Business Objects

Deal price is 20 per cent premium over share price

Written by Tom Young

Computing, 08 Oct 2007

Global applications provider SAP is to buy business intelligence specialist Business Objects for €4.8bn (£3.3bn) early next year.

The €42 per share offer represents a 20 per cent premium over Business Objects' closing share price on Friday.

"Together, SAP and Business Objects intend to offer high-value solutions for process and business-oriented professionals," the two firms said in a joint statement.

SAP aims to more than double its customer base to 100,000 by 2010, largely by targeting more small- and medium-sized companies.

The move comes after rival Oracle posted strong first quarter results last month, and promised another year of aggressive acquisitions.

Business Objects offers some of its software on demand over the web, a new service to be offered to small and medium business clients by SAP.

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