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SAP BUYING ARIBA
SAP has agreed to spend about $4.3 billion to buy Ariba, which operates a buyer-seller network online. The deal is being handled through the German company's subsidiary, SAP America, which is offering $45 a share for Sunnyvale, Calif.-based Ariba.
The target company lists its applications as combining spend management, collaborative finance management and sales acceleration management. Ariba had net income of $33.3 million on revenue of $443.8 million for its year ended September 30, a 38.5-percent increase from fiscal 2010. But the net was because of a $36.2 million gain on sale of a discontinued operation and it posted an operating loss of $2.9 million. It had $16.4 million in income in 2010. SAP will fund the deal through free cash and a loan facility.
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