By Anne Widjaja
SAP AG has again extended its tender offer for SuccessFactors, the largest enterprise cloud apps vendor in the world, due to delays with regulatory approvals.
The parties involved have not yet received the go-ahead from the Committee on Foreign Investment, which is required by US national security regulations and is a condition of the offer.
SAP commenced the cash tender offer for SuccessFactors on 16 December 2011, through the indirectly wholly owned subsidiary, Saturn Expansion Corporation. Commentators agreed that the merger was indicative of SAP’s plans to dominate the cloud space.
Jim Hagemann Snabe, co-CEO, SAP AG, also highlighted the strategic importance of the SuccessFactors merger in his keynote address at the 2011 SAP Influencer Summit: “The combination of our assets and SuccessFactors moves from a company that has been trying to get it right…to one that will accelerate rapidly in this world.”
The Saturn Expansion Corporation has since extended the expiration of its cash tender offer for all outstanding shares of common stock of SuccessFactors to February 8, 2012.
However, apart from the extension of the tender offer, all other terms and conditions remain unchanged.
