SAP says it’s still open to acquisitions after Qualtrics sale

SAP, which recently agreed to divest its stake in Qualtrics International, is open to making acquisitions again if they are a “strategic fit”, chief financial officer (CFO) Dominik Asam said.

Asam spoke to Bloomberg after the announcement of a 5 billion euros (S$7.28 billion) share buyback, precipitated by the company’s Qualtrics sale. The scale of that repurchase effort won’t limit the company’s ability to pursue deals if they make sense, he said.

“There is no pressure on us to do acquisitions, but, should there be opportunities, we are prepared for that still – even after that share repurchase,” Asam said.

The CFO said the divestiture, which values Qualtrics business at US$12.5 billion, is still “on track” for the second half of 2023.

SAP, Europe’s biggest software company, also plans to move away from providing long-term guidance after 2025. Asam explained that the “ambiguity and the risks” around setting further-out target are getting too high. “We don’t want to be cornered if we need to react to certain competitor moves,” he said. BLOOMBERG

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