SAP is not up for sale – report

The co-CEO of giant German software company SAP has told the Wall Street Journal that the firm is not up for grabs.

He told the WSJ in an interview that SAP wasn’t talking to anyone, despite rumours that a deal is on the cards.

It would cost any suitor an arm and a leg anyway, said Jim Hagemann Snabe because its share price has soared by 30 percent in the last year.

Possible companies touted as SAP buyers include HP – whose new CEO Leo Apotheker came from the company, and IBM.

Much of SAP’s revenues come from software licences and associated services but the company is eager to extend its reach by offering on-demand software.