After a spending spree that saw it spending over $7 billion software company Concur, German CRM giant appears to have decided enough is enough.
CEO Bill McDermott told a conference in Barcelona today that SAP is going to “step down” its acquisition efforts.
It had pledged to buy itself into a position of real power in the market, but according to a report by Reuters it was going to tuck itself into bed and that would probably put people to sleep.
SAP has seen some tough times in the recent past but McDermott believes it now has a business plan that will see it do reasonably well between 2015 and 2020.
SAP’s major competitors include Salesforce, Oracle and Workday and that market is becoming increasingly competitive.
McDermott’s strategy is to sell more of its products through the cloud, and that makes it just like every other vendor and therefore more vulnerable to competition too.
