SAP CEO aims to double market value to 250-300 billion euros by 2023: report

BERLIN - Europe's largest technology company SAP aims to more than double its market value to between 250 billion euros and 300 billion euros by 2023, Chief Executive Bill McDermott told a German newspaper.

"Measured on the market valuation of pure cloud service providers, we have potential in our portfolio for a further 90 billion euros in market value," he told Thursday's edition of Frankfurter Allgemeine Zeitung newspaper.SAP is in the middle of a restructuring plan, announced in January, that includes 4,400 layoffs, as McDermott seeks to transform the company into a digital platform business.

Shares in SAP have fallen 5 percent over the past week off a six-month high of 104.88 euros set on April 4. It currently has a market capitalization of 122.35 billion euros , making it Germany's most valuable company.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

SAP cloud business head quits after 27 years in latest top departureBERLIN: Software company SAP said the head of its cloud business group had quit, the latest in a string of top departures as Europe's most ...
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

SAP's head of cloud business latest top departure in restructuringSoftware company SAP said the head of its cloud business group had decided to leave the company, the latest in a string of top departures as ...
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

Europe: Shares fall as tech, auto stocks weigh[FRANKFURT] European stocks opened broadly lower on Monday following a week of strong gains, as dismal German trade data hurt auto makers and software company SAP dragged the tech sector lower after it announced another departure in its top management. Read more at The Business Times.
Fuente: BusinessTimes - 🏆 15. / 51 Leer más »