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SAP eyes acquisitions in banking services sector
0 Comments | AFP, September, 2005
FRANKFURT (AFP) — SAP, the world's leading maker of business software, is hoping to expand in the banking services sector, chairman Henning Kagermann said in a newspaper interview.
"We see a lot of opportunity for growth -- mostly organic but we will make fill-in acquisitions if we need to buy in certain expertise," Kagermann told the Financial Times.
SAP estimates that the overall bank information technology market will be worth 40 billion dollars (32 billion euros) this year.
"The parts of that market where we compete are both nine billion euros," Kagermann said Monday.
"We believe growth will run at five-to-six percent a year."
© 2005 AFP
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