Customers to benefit from both companies' complementary product and service range
SAP AG ("SAP") and SAF Simulation, Analysis and Forecasting AG ("SAF") plan to combine SAF's operations with those of SAP's Swiss subsidiary, SAP (Schweiz) AG ("SAP Schweiz"). To accomplish this objective, SAF will be merged into SAP Schweiz. SAF minority shareholders will receive an adequate cash settlement as compensation under the terms of the merger. The entry of the merger into the commercial register will result in the dissolution of SAF and the discontinuation of trading in its shares on the Frankfurt Stock Exchange. Following completion of the necessary preparations, the merger will be approved by an Extraordinary Shareholders' Meeting to be held this year. There are no plans to reduce the workforces of either company. It is planned to retain SAF's current locations as centers of competence for retail, forecasting and replenishment.
SAF is a technology leader that develops innovative software systems for highly efficient IT-based replenishment management for retail and industry. Many companies use SAF's forecasting and ordering systems to streamline their inventories, reduce their warehousing costs, increase sales and boost customer satisfaction. SAF and SAP have been working together successfully since 2002 as part of a strategic OEM product and sales partnership. For example, SAF's flagship product is sold as a component of SAP's Forecasting & Replenishment solution.
As a result of this successful partnership, SAP acquired a majority interest in SAF in the summer of 2009; it presently holds approximately 94 percent of SAF shares.
The merger between SAF and SAP Schweiz will make it possible to develop technologies and solutions together and to market them as a component in SAP solutions. "We can achieve the optimal combination of the innovative power of a small and efficient company and the potential offered by a global corporation. Our customers will be the first to benefit from the complementary product and service range, as well as from SAP's global presence and sales experience", explained Udo Meyzis, Chief Executive Officer of SAF AG. In addition, the two companies see potential for considerable synergies in sales, service and administration. "This merger will enable us to react even more quickly to provide our customers with optimally priced, holistic solutions and significant added value", said Michael Kleinemeier, Regional President SAP AG responsible for Germany, Austria and Switzerland. "The core components of SAF software are already integrated into SAP products. The planned merger will allow our customers to harness the full potential of an extended range of solutions over the long term", added Kerstin Geiger, Global Head of Industry Solutions at SAP AG. The aim is to leverage a joint strategy to become even more successful on the market for forecast-based replenishment planning in the future