SAP America Plans to Acquire Retek
Retek's retailer support software will add to SAP's growth in 2005, as SAP moves further into a vertical market.Business applications software goliath SAP AG announced Monday that its North American subsidiary, SAP America Inc., intends to acquire retail software provider Retek for about $496 million in cash. Retek Inc., in Minneapolis, Minn., develops software that enables automation from the point of purchase through the retail supply chain, and supports such retailer activity as merchandise operations management, supply chain management, and merchandise planning and optimization. The software will also enable SAP, in Walldorf, Germany, to delve deeper into a vertical market it has pinpointed as an area for future growth.
SAP CEO Henning Kagermann said during the companys fourth-quarter earnings call in January that 2005 would be a year of growth for the company.