Flowing Sap

SAP’s E4.8bn agreement to purchase Business Objects could pump up sales growth for the German maker of enterprise software. It also signifies a welcome, more-aggressive stance against arch competitor Oracle. But shareholders are rightly sceptical of the merits of paying a 20% premium for Business Objects, and have sent SAP’s shares down nearly 6% on the news. The appeal of Business Objects to SAP is clear. The French-American group produces software that helps businesses interpret the huge flow...