Johannesburg (IT News Africa) — SAP, the world’s leading provider of business software, has announced its intent to make a public tender offer to purchase all shares in SAF Simulation, Analysis and Forecasting AG, one of the global forecasting and replenishment software leaders in the retail and wholesale industries.
In a statement from Johannesburg, SAP said it plans to further extend and complement its current planning, forecasting and replenishment solution portfolio for retail and wholesale companies.
The companies have a long history of successful cooperation based on an original equipment
manufacturer (OEM) partnership. At present, SAP does not hold any shares in SAF AG.
SAP said intends to offer SAF shareholders an amount of EUR 11.50 per share, which represents a 9.5 percent premium according to the XETRA closing price (EUR 10.50) for the SAF share on July 17, 2009, and a 33.9 percent premium to the volume-weighted average price of the SAF shares in XETRA trading on the Frankfurt Stock Exchange over the past three months.
The offer will be made subject to a minimum acceptance threshold of 50 percent plus one share and the approval of the responsible anti-trust authorities.
Both major SAF shareholders, who together hold approximately 38 percent of the shares in SAF, have agreed to accept the SAP offer, SAP said.
“Through the planned acquisition of SAF, SAP reiterates its strategy to help our customers gain more clarity and transparency across their businesses and drive sustainable efficiency through innovative and reliable software solutions,” said Bob Stutz, corporate officer and member of the Executive Council, SAP.
“With core components of the SAF software already embedded into the SAP Retail solutions, customers will further benefit from the joined solution and technology portfolio, as well as from the combined innovative strengths.”
Said Dr. Andreas von Beringe, SAF’s founder, CEO and president, “Since 2002, SAP has relied on our technological expertise and has fully integrated our SAF engine into its SAP Forecasting and Replenishment module within the framework of our OEM partnership.”
“In becoming a part of SAP, SAF brings its sustainable forecasting and replenishment expertise to the company. We will tie together our strengths in development and sales and thus help meet the increasing needs of current and future customers.
“Our customers will clearly benefit from the combined service and product portfolio as well as from the strong retail expertise and the global reach of SAP as the worldwide market leader in business software.”
SAF specializes in the development of ordering and forecasting software for the retail, logistics and industrial sectors.
By Mpendulo Ngwenya