Germany’s SAP announces offer for Swiss forecasting software company SAF worth over $90M

SAP offers to buy Swiss-based software company SAF

BERLIN — Germany’s SAP AG on Monday offered to buy SAF Simulation, Analysis and Forecasting AG in a deal that values the Swiss-based developer of ordering and forecasting software at euro63.7 million (US$90.6 million).

Business software maker SAP said it has a “long history of successful cooperation” with SAF but currently holds no shares in the Taegerwilen, Switzerland-based company.

SAP said its offer of euro11.50 ($16.22) a share represents a 9.5 percent premium on the stock’s closing price Friday.

Shares in SAF, which is listed on the Frankfurt stock exchange, rose more than 9 percent to euro11.45. SAP shares were up 0.12 percent to euro30.27 in Frankfurt trading.

Walldorf-based SAP said both of SAF’s major shareholders, who together hold some 38 percent of the company, had agreed to accept it.

SAF, which has about 100 employees, focuses on developing ordering and forecasting software for the retail, logistics and industrial sectors.

SAP said it views the retail and wholesale industries as “an important market with significant growth potential.”

“We will tie together our strengths in development and sales and thus help meet the increasing needs of current and future customers,” SAF chief executive Andreas von Beringe said in a statement.