SAP to acquire Business Objects for $6.8 billion

SAP has confirmed that they are now going to acquire software group Business Objects.

They are going to pay around 42 Euros per share for the company in cash. The deal is worth around $6.8 billion.

This makes it the biggest acquisition by SAP ever as it aims to stay ahead of Oracle in its primary market.

The company said in a statement that Business Objects anticipated recommending the offer to its shareholders.

They expect the deal to be complete by the first quarter of next year.