SAP sees new acquisition as boon for cloud computing

The acquisition of US firm Success Factors by SAP will make the German software giant number one in "cloud computing" and show a profit from 2013, a top SAP executive said in an interview published Saturday. "By integrating SAP solutions with those of Success Factors, we can realise economies of scale and make money more quickly," Jim Hagemann Snabe, one of SAP's two co-executives, told the financial weekly Focus. The synergies achieved with the acquisition "are going to help us become number one in the near future" in the rapidly growing market of so-called cloud computing, said Hagemann Snabe. Success Factors specialises in cloud computing, which involves managing on the Internet data that is stored on distant servers. Iteliminates the need for clients to keep data on their own computers or servers, saving them money and giving them more flexibility. SAP, the world's leader in professional software, announced last week that it would acquire Success Factors for $3.4 billion (2.5 billion euros). The acquisition is the latest development in the fierce rivalry between SAP and Oracle.