Software AG has 1 billion euro war chest for any acquisition: paper
FRANKFURT (Reuters) - German business software maker Software AG (SOWG.DE) has the financial flexibility to make any acquisition worth up to 1 billion euros ($1.30 billion), a German weekly said on Saturday, citing finance director Arnd Zinnhardt.
"We are so well positioned in terms of our operating activities and our balance sheet that we could theoretically pay for a big acquisition of up to 1 billion euros," he said.
He does not rule out another acquisition next year, the report said.
Software is on the lookout for companies which are in the business of cloud computing or in big data analysis, he added.
Software's 487 million euro acquisition of business process management software maker IDS Scheer in 2009 was its biggest so far. ($1 = 0.7717 euros)
(Reporting By Marilyn Gerlach, editing by William Hardy)
- Malaysian plane still missing; questions over false IDs |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Warning shots fired to turn monitors back from Crimea |
- Malaysian plane crashed off Vietnam coast: state media