Business software maker SAP announced it will acquire SuccessFactors in a $3.4 billion all-cash deal designed to raise the company's competitive profile in the cloud computing space. SuccessFactors develops hosted employee-management software that is used by more than 3,500 customers in 168 countries. Analysts say the acquisition, which cost SAP 52% above market value, reflects SAP's ongoing effort to gain market leverage against rival Oracle, which has shelled out more than $42 billion on takeovers since the beginning of 2005.

Related Summaries