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Software AG CEO says '07 acquisition possible

Mon Dec 10, 2007 4:31am EST

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FRANKFURT, Dec 10 (Reuters) - Germany's Software AG (SOWG.DE) may launch an acquisition by the end of the year to strengthen its integration software business, Chief Executive Karl-Heinz Streibich told Reuters on Monday.

Software AG -- which specialises in mainframe computer modernisation and so-called service-oriented architecture (SOA) software -- has identified 10 to 15 possible takeover targets, about 60 to 70 percent of which are based in the United States, the CEO said.

"We are the number three worldwide for SOA and we want to become the number one," Streibich said.

Software AG has earmarked 200 million to 400 million euros

($291 million to $582 million) for the purchases, which it may also finance through a capital increase, Streibich said.

"Whether or not we do a capital increase depends on our share price," the CEO said

Software AG shares were up 1.3 percent at 54.60 euros by 0904 GMT, while Germany's technology index <.TECDAX) was up 0.2 percent.

(Reporting by Arno Schuetze; Editing by David Holmes)

((eva.kuehnen@reuters.com; +49 69 7565 1207; Reuters Messaging: eva.kuehnen.reuters.com@reuters.net))

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