SAP SE (SAP.N)
22 Nov 2017
Latest Key Developments (Source: Significant Developments)
SAP SE:Expects FY 2016 non-IFRS operating profit to be in a range of 6.4 billion - 6.7 billion euros at constant currencies (FY 2015: 6.35 billion euros).FY 2016 operating profit estimate 6.56 billion euros - Thomson Reuters I/B/E/S. Full Article
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
DUBAI/LONDON German business software giant SAP , which last month said its South African sales commissions were being probed by U.S. regulators, has launched an investigation into its business practices in the Gulf region, it said on Wednesday.