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SAP to Acquire SuccessFactors for $3.4 Billion

Seems like SAP- the Enterprise software maker - has finally decided it is time to jump into the cloud computing race and make the most out of it while the sector is still expanding.

As part of this effort, SAP has gone ahead with the proposed acquisition of SuccessFactors for a $3.4 billion.

SuccessFactors is a web based service provider headquartered in the US. Ever since its inception, the company has slowly and gradually established itself as a leading provider of cloud based Human Resource Management solutions.

Apparently, SAP is interested in integrating SalesFactor's impressive HRM platform into its existing Business ByDesign ERP services.

All this could mean SAP will soon become a tough competitor in the cloud based software industry.

Meanwhile, SuccessFactos is itself acquiring Jobs2Web - a provider of applicant tracking software.

"It was easy for SuccessFactors to pull the trigger on acquiring Jobs2web, despite an extremely competitive acquisition fight for them, because they have so many powerful assets," said Lars Dalgaard, founder and CEO, SuccessFactors, according to a Trefis report.