Walldorf, Germany-based SAP attempted to increase its shareholding in the Dresden-based services company from 70% to 100%, but was thwarted when a 10% minority of SAP SI shareholders did not accept the 20.40 euros ($25.00) per share offer in June.
However, SAP has now acquired SAP SI’s subsidiaries in the US and Switzerland for an undisclosed sum. The US operation made full-year 2003 revenue of 29.2m euros ($35.8m), which accounted for 10.4% of its 280.3m euros ($344m) group sales. The move is part of SAP’s plan to integrate SAP SI’s consulting operations with its own internal consulting unit.
