SAP AG (SAP), the biggest maker of business management applications, said it will invest an additional $450 million in the Middle East and North Africa over four years to extend its lead in the region.
SAP plans to add 500 workers to about 300 employees it has in the region, Daniel Reinhardt, a spokesman for the Walldorf, Germany-based company, said by phone today. He declined to quantify current investment. SAP also will set up a training institute to certify 2,000 software consultants over the period, it said in a statement.
SAP, whose biggest rival is Oracle Corp. (ORCL), aims to boost annual revenue to more than 20 billion euros ($26.2 billion) by 2015 as it rolls out on-demand software, mobile applications and the rapid Hana “in-memory” computing technology. By then, the company said it expects to “significantly” increase sales in the Middle East and North Africa.
The region “is remarkable in its growth potential, scope and readiness to innovate,” Chief Financial Officer Werner Brandt said in the statement. “SAP’s additional investment will enable us to deliver leading-edge innovation, better localization and more talent.”
SAP said its market share in the region exceeds 37 percent, citing research by IDC.
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