SAP CEO sees company staying independent in long term -paper

Reuters News
Posted: Dec 06, 2014 7:56 AM

FRANKFURT (Reuters) - German software maker SAP will remain an independent company in the long term, its chief executive told a German newspaper.

"I believe so, absolutely," Bill McDermott told weekly Euro am Sonntag in an interview published on Saturday.

"The best way for a company to stay independent is to grow and to have a good market capitalization," he added.

With a market capitalization of 70.5 billion euros ($86.6 billion), SAP is the fifth-largest company in Germany's large cap DAX index.

SAP had held talks about a potential merger with software giant Microsoft in 2004 but discussions were scrapped because of the complexity of any deal and the subsequent integration of the companies.

($1 = 0.8140 euro)

(Reporting by Christoph Steitz; editing by Susan Thomas)