SAP Mulls China Listing, Hewlett-Packard Accusations Doubted: Tech Biz Report
The German business software firm SAP (NYSE:SAP), already listed in Germany and New York, is evaluating the possibility of a listing in China to give it the option of accessing financial resources in one of its most rapidly growing markets of all. SAP already competes with Microsoft Corporation (NASDAQ:MSFT), Oracle Corporation (NASDAQ:ORCL), and International Business Machines (NYSE:IBM), and intends to invest $2 billion in China by 2015 along with meeting its sales goal of €1 billion for China. In the third quarter in China, SAP saw a growth in software sales of 40 percent, establishing it as its sixth largest market.
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The allegations over accounting practices at Hewlett-Packard Company (NYSE:HPQ) make no sense to the former chief of Autonomy, a firm which the former acquired in 2011. Mike Lynch says he does not understand how the matter became a $5 billion write-down on the software business he sold them, according to Reuters. Lynch explained that there were three areas in which accounting rules gave a wide range for differences of interpretation as he said that the allegations are “utterly wrong.”
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