SAP Seals Business Objects Deal

On news of the acquisition, Deputy CEO Apotheker says it's an "exciting time" for the tech industry, despite economic fears and sagging share prices

A weak dollar, a looming U.S. recession, and a sagging stock market may foreshadow a gloomy new year for the tech sector, but don't try telling that to German software maker SAP (SAP). "This is the most exciting time ever to be in information technology—at least in software," says SAP Deputy Chief Executive Léo Apotheker, who was in Silicon Valley on Jan. 16 to announce the successful conclusion of the company's $6.8 billion acquisition of French business intelligence software maker Business Objects (BOBJ).

To continue reading this article you must be a Bloomberg Professional Service Subscriber.