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IBM-SAP combo not in the cards - exec

Tuesday, May 12, 2009

At a table in Las Vegas, a town fueled by big bets, IBM software chief Steve Mills outlined one he doesn't want to make: Buying application provider SAP.

"We're not changing our strategy," said Mills, who guides Big Blue's software strategy for CEO Sam Palmisano. "We have consistently shied away from going deep into the applications space," he said last week at a series of business meetings

That speculation goosed shares in the German software maker up above $41 last month before they settled back down under $38. "As Oracle opens more fronts against IBM, we believe IBM may eventually decide to move into the applications business in a big way, perhaps by acquiring SAP," wrote JMP Securities analyst Patrick Walravens.

Article sourced from http://money.cnn.com, click here to read full story.

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