Extending its leadership in delivering complete solutions for the CFO, SAP AG (SAP) plans to acquire OutlookSoft Corporation, a privately held provider of integrated planning, budgeting, forecasting and consolidation software.

This acquisition announcement marks another milestone in SAP's multi-year plan to holistically address the increasingly sophisticated requirements of the CFO around driving business performance, managing risk, ensuring compliance and spearheading financial transformation in their organisations, said an official spokesman.

In making the announcement, SAP stated that the acquisition is expected to be completed in June 2007, pending approval from the respective antitrust authorities. Terms of the acquisition were not disclosed.

'Across industry segments and global markets, CFOs are under tremendous pressure to improve business performance, predictability and stakeholder confidence,' said corporate officer and member of the Executive Council, head of Business User Development, SAP AG, Doug Merritt.

Recognizing customers' needs for an innovative new approach to performance management, OutlookSoft was founded in 1999 to deliver the standard for next-generation solutions based on unprecedented ease-of-use for the business user and unified experience across all performance management processes.TradeArabia News Service