German software developer to invest $450 million in the Middle East

Reuters , Monday 12 Mar 2012

Business software firm SAP says it plans large-scale expansion in Middle East and North Africa over the next four years

German business software developer SAP plans to invest $450 million in the Middle East and North Africa over the next four years as it seeks further growth beyond its mature home markets, the company said on Monday.

"SAP expects to significantly grow its MENA revenues by 2015, building on double-digit compound growth between 2008 and 2011 and establishing the region as one of the company's top 10 growth markets globally," SAP said in a statement.

SAP will recruit 500 additional employees and open several new offices, the company said.

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