SAP AG starting unit to target small, medium-sized firms
SAP AG said today it is launching a new business unit that targets small and medium-sized firms.
Traditionally, the German firm sold its back-office software solely to large "enterprise" businesses. But in recent years SAP and competitors such as Oracle Corp. have expanded their market to include smaller companies in order to facilitate growth.
Today's announcement formalized that strategy, with the company appointing Hans-Peter Klaey as president of the new unit, Global SME (small and medium enterprises). Signaling the importance of the position, Klaey will report to Léo Apotheker, president of customer solutions and operations and SAP AG executive board member.
SAP Americas, the company division serving the United States, Canada and Latin America, has its headquarters in Newtown Square.
SAP's American depositary receipts, its U.S.-listed shares, traded at $50.67, up 7 cents, on the New York Stock Exchange.
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