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Asked about potential acquisitions, SAP's Chief
Executive Bill McDermott said emphatically: "Faced with a choice
of stepping up or stepping it down, we are going to step it
down."
"If we do something it will be tuck in. It will probably put you
to sleep," McDermott said at Morgan Stanley's annual European
Technology, Media and Telecoms Conference in Barcelona. SAP is
in the process of buying expenses software maker Concur for $7.3
billion, which is its largest acquisition ever and has earned
SAP criticism for paying a rich multiple. That deal is set to
close in the next three weeks, McDermott said.
He said that he would lay out a growth plan for each year and
each business for 2015 through 2020 in January. "We are very
confident for the future," he said.
So far this quarter SAP is dealing with a similar macroeconomic
environment as it did in the third quarter, McDermott said,
adding that the United States and Europe were pretty steady,
with the exception of Russia.
(Reporting by Eric Auchard; Writing by Harro ten Wolde; Editing
by Maria Sheahan)
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