January 31, 2019 / 8:25 AM / 10 months ago

Software AG CEO: can spend 1-1.5 billion euros on acquisitions

FRANKFURT (Reuters) - German business Software AG (SOWGn.DE) can spend 1-1.5 billion euros ($1.15 billion-$1.73 billion) on acquisitions, CEO Sanjay Brahmawar told Reuters on Thursday, as he seeks to drive growth in data integration and the industrial internet.

Brahmawar, a former IBM executive appointed last year, said in an interview there would be no staff layoffs under a strategy overhaul that he has led at Darmstadt-based Software AG. Larger competitor SAP (SAPG.DE) said this week it would let go of more than 4 percent of its workforce.

Reporting by Douglas Busvine; Editing by Riham Alkousaa

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below