SAP SE (SAP) , along with Carahsoft Technologies, is being investigated by U.S. officials for conspiring to overcharge government agencies, according to a Bloomberg report. Following this development, shares of SAP fell 3.3% and closed yesterday's trading session at $223.29. Citing federal court records filed in Baltimore, Bloomberg added that since 2022, the Department of Justice's ("DOJ") attorneys have been investigating whether SAP colluded with Carahsoft to fix prices on sales to the military and other ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Key Takeaways Shares of German technology firm SAP listed in the U.S. fell Wednesday morning following reports the company is being investigated for potentially overcharging the U.S. government. U.S. regulators are looking into whether SAP and other companies may have conspired with Carahsoft, which sells IT hardware, software, and consulting services, to illegally fix prices. The Department of Justice is suing Carahsoft to obtain communications related to the sale of SAP software and hardware. U.S.-listed ...

Acquisition Details - SAP SE has acquired WalkMe Ltd. for approximately $1.5 billion, representing a 45% premium to WalkMe's closing share price on June 4, 2024 [1][2] - Each ordinary share of WalkMe has been converted into the right for shareholders to receive $14.00 per share in cash, with trading of WalkMe's shares expected to be suspended [2] Company Overview - WalkMe, headquartered in Tel Aviv, Israel, is recognized for its innovations in digital adoption platforms, enhancing digital transformation strategies by promoting user adoption [3] - WalkMe's technology improves workflow execution across business software applications, supporting business transformation and enhancing user experience [4] Strategic Fit - The acquisition will complement SAP's Business Transformation Management portfolio, aiding clients in accelerating their digital transformations [4] - Integrating WalkMe's capabilities with SAP's copilot Joule will enhance AI assistance and productivity for SAP customers [5] SAP's Business Performance - SAP's cloud revenues reached €4.15 billion in Q2 2024, up 25% year over year, driven by a 33% increase in Cloud ERP Suite revenues [7] - SAP remains optimistic about the generative AI trend, expecting it to positively impact revenues, with significant advancements announced in AI for supply chain solutions [8] Restructuring Plans - SAP plans to implement a restructuring program in 2024, aiming to eliminate 8,000 positions to align its skill set and resources with future business requirements [9] Stock Performance - SAP currently holds a Zacks Rank 2 (Buy), with shares gaining 62.5% in the past year compared to the sub-industry's growth of 24.1% [10]

Core Viewpoint - SAP SE has successfully completed the acquisition of WalkMe Ltd., enhancing its digital adoption capabilities and user experience through innovative technology [1][2]. Group 1: Acquisition Details - Each ordinary share of WalkMe Ltd. has been converted into the right for shareholders to receive US$14.00 in cash, subject to adjustment [2]. - The acquisition has an equity value of approximately US$1.5 billion, representing a 45% premium to WalkMe's closing share price on June 4, 2024 [2]. Group 2: Strategic Implications - WalkMe's technology will improve workflow execution across business software applications, supporting business transformation and enhancing productivity [1]. - The integration of WalkMe's AI capabilities will supercharge SAP's copilot Joule, providing context-aware and proactive assistance across workflows [1].

WALLDORF, Germany, Sept. 4, 2024 /PRNewswire/ -- SAP SE (NYSE: SAP) today announced the participation of its executives at the following event. This event will be webcast, and a replay will be made available shortly after the event on the SAP Investor Relations website: https://www.sap.com/investors/en/calendar.html Goldman Sachs, Communacopia & Technology Conference San Francisco, California, US Dominik Asam, CFO and member of the SAP Executive Board will hold a Fireside Chat at the event. Tuesday, Septemb ...

Core Insights - Scope AI Corp. has appointed Grifyn McErlean as a Business Development Consultant to enhance its market expansion efforts and drive adoption of its data and quantum encryption solutions [1][2][3] - The company is focusing on scaling its QSE Technology product suite, which includes quantum-resilient distributed storage systems, in response to the increasing demand for enhanced encryption due to current and future cybersecurity threats [2][5] - McErlean's background in enterprise solutions and experience at SAP will aid Scope AI in navigating complex market environments and securing strategic partnerships [3][4] Company Strategy - The appointment of McErlean is part of Scope AI's strategy to execute and grow its QSE Technology offerings globally, emphasizing the importance of having the right expertise for market penetration [4][6] - The QSE Technology product suite provides API-based quantum-resilient entropy as a service, along with various encrypted storage solutions, ensuring protection against both current cyber threats and future quantum-computing decryption attacks [5][6] - The company aims to build a robust business development framework to drive long-term success and capitalize on emerging opportunities in the data security space [4][5]

Core Viewpoint - SAP SE's stock has increased by 50% over the past year, outperforming the S&P 500 and its sub-industry growth rates of 18.6% and 19.8% respectively [1] Financial Performance - SAP's cloud business is a significant driver of its strong financial performance, with a current cloud backlog of €14.8 billion, reflecting a 28% increase [2] - In Q2 2024, SAP's cloud revenues reached €4.15 billion, a 25% year-over-year increase, driven by a 33% growth in Cloud ERP Suite revenues [2] - Cloud revenues from SaaS and PaaS increased by 28% to €4.018 billion, while Infrastructure-as-a-Service revenues declined by 27% to €135 million [2] Market Strength - SAP's cloud business is performing well in various regions, including India, Japan, South Korea, Germany, Brazil, Canada, the United States, Saudi Arabia, and China [3] Product Adoption - The Rise with SAP solution is a key growth driver, helping companies transform their operations and gain market share in cloud ERP solutions [4] - Notable clients adopting the Rise with SAP solution include ExxonMobil, Porsche Informatik, and Shiseido Company among others [5] Future Projections - Management anticipates 2024 cloud revenues between €17 billion and €17.3 billion, indicating a year-over-year growth of 24-27% [7] - Total revenues for 2024 are expected to be between €29 billion and €29.5 billion, reflecting an 8-10% growth [7] - For 2025, SAP expects cloud revenues to exceed €21.5 billion and total revenues to surpass €37.5 billion [8] Strategic Initiatives - SAP is focusing on generative AI advancements, collaborating with IBM and Amazon Web Services to enhance productivity in supply chain solutions [9] - The company is restructuring with an expected total expense of approximately €3 billion to align its workforce with long-term strategies [10] Analyst Estimates - The Zacks Consensus Estimate for SAP's 2024 and 2025 revenues is $36.7 billion and $40.6 billion respectively, indicating growth of 8.8% and 10.6% [12] - The consensus estimate for 2024 EPS is $4.75, with a projected rise of 33.4% to $6.33 for 2025 [12]

WALLDORF, Germany, Aug. 7, 2024 /PRNewswire/ -- SAP SE (NYSE: SAP) today announced Xerox Holdings Corp. (Nasdaq: XRX) has chosen multiple SAP solutions to transform its enterprise architecture as part of its multi-year Reinvention. Xerox's Reinvention involves aligning its resources to improve and stabilize its core print businesses, increase productivity and efficiency, and focus on its emerging digital services and IT services capabilities to improve business outcomes for its clients. Moving to the Cloud ...

Group 1 - SAP's Chief Revenue Officer Scott Russell and Chief Marketing and Solutions Officer Julia White will leave the Executive Board effective August 31st, 2024, as part of a strategic transition to enhance the company's focus on cloud and AI-first strategies [4][5][6] - The SAP Supervisory Board believes this is the right moment to embark on the next era of growth, thanking Russell and White for their significant contributions to SAP's cloud transformation [2][6] - CEO Christian Klein will temporarily take over the sales organization while a search for Russell's successor is underway, indicating a commitment to maintaining leadership continuity during this transition [1][6] Group 2 - The changes in the Executive Board structure aim to strengthen the synergy between product marketing and product teams, streamlining operations to support a cloud-first model [5] - SAP is positioning itself to further expand its leadership in enterprise software by prioritizing Suite- and AI-first strategies, which are seen as key areas for future growth [2][6] - The company has a long-standing reputation as a global leader in enterprise applications and business AI, trusted by organizations for over 50 years to integrate critical business operations [7]