SAP still open to large acquisitions

MUNICH, GERMANY: German software group SAP is on the lookout for acquisitions - including big ones - even after a $5.8 billion deal last month to buy database specialist Sybase, its co-CEO told shareholders.

"To enhance our market position even more, we continue to search for acquisitions to provide us with innovative functionality and software to complement, enhance, and round out our industry, product, and technology offerings," Jim Hagemann Snabe said in remarks prepared for SAP's annual meeting.

"We are also open to larger acquisitions, if it means more value for our customers and shareholders."

Just three months into their new jobs as co-chief executives, Snabe and Bill McDermott pounced on Sybase in what would be the second-largest acquisition in SAP history after its purchase of Business Objects in 2008.

Snabe said the Business Objects deal strengthened SAP by enhancing its product offerings, while the Sybase purchase would help it provide services for mobile devices and leverage in-memory technology.