SAP acquires regional partner's assets

Dubai: Business software solutions provider SAP yesterday announced the acquisition of the software licence and maintenance business of SAP Arabia, its exclusive long-term partner in the region.

Under the agreement, SAP will acquire selected existing assets, including all existing software license and maintenance customer contracts, and trademarks from SAP Arabia. SAP will first establish subsidiaries in Dubai and Saudi Arabia, the company said yesterday.

"SAP Arabia has created a good foundation, which we intend to build upon in our goal to meet growing market demand in the region," said Ernie Gunst, president, customer solutions operations, Europe Middle East and Africa. "This acquisition brings SAP closer to its customers and partners."

The acquisition is subject to customary closing conditions and expected to be completed in SAP's fourth quarter of 2007.

Financial terms of the all cash transaction were not disclosed.