SAP to invest $2 billion in China in next four years

Nov 15, 2011

German software giant SAP said on Tuesday it planned to invest $2.0 billion (1.5 billion euros) in increasing its presence in China over the next four years.

"SAP today announced multi-year spending plans of more than $2 billion through 2015 to grow its business in China," the world's second-largest economy, the group said in a statement.

Co-chief executive Bill McDermott said SAP, which has been present in China for 20 years and has two research centres in and Chengdu, would set up five or six more branches there and hire around 2,000 more people.

does not publish separate figures for its activities in China, but the Asia-Pacific region accounted for around 14 percent of overall group revenues last year.

Explore further: US newspaper industry revenue fell 2.6 pct in 2013

add to favorites email to friend print save as pdf

Related Stories

SAP profits up strongly in third quarter

Oct 14, 2011

German software giant SAP said Friday its profits more than doubled in the third quarter thanks to strong sales and lower legal costs related to litigation with arch-rival Oracle.

SAP posts 12 percent gain in third quarter profit

Oct 27, 2010

SAP, the professional software giant, posted on Wednesday a third quarter net profit of 501 million euros (690 million dollars), a gain of 12 percent from the same period a year earlier.

SAP CEO resigns, replaced by 2 co-chief executives

Feb 08, 2010

(AP) -- The chief executive of German software company SAP AG, Leo Apotheker, has resigned after his contract was not renewed and will be succeeded by two co-CEOs, the company said Sunday.

Recommended for you

Airbnb rental site raises $450 mn

42 minutes ago

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

US venture investments highest since 2001 (Update)

Apr 18, 2014

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report due out Friday.

User comments : 0

More news stories

Airbnb rental site raises $450 mn

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

Researchers uncover likely creator of Bitcoin

The primary author of the celebrated Bitcoin paper, and therefore probable creator of Bitcoin, is most likely Nick Szabo, a blogger and former George Washington University law professor, according to students ...