SAP to Invest $2.25 Billion in IoT

Just a day after announcing it had acquired big data provider Altiscale for an undisclosed sum, Germany-based SAP (NYSE: SAP) said Wednesday it has committed approximately $2.25 billion over the next five years to “help business and government entities benefit from the proliferation of sensors, smart devices and Big Data that is transforming business with the Internet of Things [IoT].” SAP is already a player in the IoT market, but intends to use its recently announced investment to expand its existing portfolio of solutions, as well as “increase sales and marketing, scale service, support and co-innovation, and grow its ecosystem of partners and start-ups.” CEO Bill McDermott added: “With billions of connected devices, we now have the potential to reshape society, the economy and the environment.” As SAP made clear with the Altiscale announcement, its big data push is closely tied to its IoT ambitions, and for good reason. …read more

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Category: SAP

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