SAP SE (SAPG.DE)
Latest Key Developments (Source: Significant Developments)
SAP SE:A U.S. federal judge identified the former president of Panama, Ricardo Martinelli, as one of several alleged co-conspirators in a bribery scheme that helped SAP to sell millions of dollars in software to Panama, according to a document reviewed by Reuters - RTRS.The reference to Martinelli as a co-conspirator, which has not been previously reported, comes as the former president faces unrelated allegations of corruption and misconduct in Panama – accusations he has said are politically motivated - RTRS.Martinelli’s name came to light in the U.S. bribery case against Vicente Garcia, a former executive at SAP, the German software company - RTRS.Garcia, 65, was sentenced to 22 months in prison on Dec. 16 by a U.S. court in the Northern District of California, after pleading guilty to conspiring to bribe Panamanian officials to secure contracts for SAP software - RTRS.In Judge Charles R. Breyer’s order on sentencing, he instructed Garcia to avoid contact with “any co-conspirator in this case,” naming Martinelli and six others, as a condition of his future supervised release. - RTRS.An SAP spokesman said the company fired Garcia in April 2014 and is cooperating in the ongoing investigation. - RTRS.The spokesman pointed out that the U.S. Securities and Exchange Commission, which conducted a parallel investigation, has said Garcia "circumvented SAP's internal controls” to fund the bribe payments - RTRS. Full Article
Koninklijke Philips NV:Philips and SAP SE announce collaboration.Aim is to link real-time information from connected street lights with data from other sensors in a single integrated city dashboard. Full Article
SAP SE:Says Co and Google Inc have entered into a long-term patent cross licensing agreement that covers a broad range of products and technologies.Agreement covers the companies' existing patents and those filed over the next five years. Full Article
FRANKFURT German business software company SAP denied a media report on Friday that said it has imposed a complete freeze on recruitment in order to meet financial targets this year, while reiterating that it had restricted new hirings in some areas.