Snabe

*** Technology German software giant SAP isn't in talks to sell itself, dampening persistent market rumors of an impending deal, co-chief executive Jim Hagemann Snabe said in an interview.

Business Watch 2011

In an interview with The Wall Street Journal earlier this month, Co-Chief Executive Jim Hagemann Snabe reiterated SAP's guidance that the company would increase its sales for software and software-related services between 10% and 14% this year, and pledged to reach €20 billion $27.81 billion in sales by the middle of this decade.

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"We're not having any talks with anyone," SAP co-chief executive Jim Hagemann Snabe said in an interview.

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Mr. Snabe reiterated SAP's guidance that the company would increase its software and software-related services sales between 10% and 14%, this year, and pledged to reach €20 billion in sales by the middle of this decade.

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Mr. Snabe said the product is unique, in part because it allows professionals to interact with each other in a similar way that Facebook Inc. allows its users to interact with friends.

SAP Not in Merger Talks, CEO Says Christopher Lawton 2011

To date, Mr. Snabe said the company's revenue has come mostly from its core business of selling traditional software licenses and maintenance services, but that he expects subscription based revenues from its on-demand software to make up a bigger share of sales this year.

SAP Not in Merger Talks, CEO Says Christopher Lawton 2011

"SAP's strategy of growth through innovation is clearly paying off and we remain confident about our future outlook," said Co-Chief Executive Jim Hagemann Snabe , who was appointed to lead SAP together with Bill McDermott in February 2010, in a statement.

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On the conference call, Jim Hagemann Snabe , SAP's co-CEO, said the Business ByDesign product was on track to reach the company's current goal of a 1,000 customers by the end of this year.

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Mr. Snabe's comments come as the company has been trying to extend its reach into new areas.

SAP Not in Merger Talks, CEO Says Christopher Lawton 2011

"The best medicine for SAP to stay independent is to stay successful," Mr. Snabe said in the interview at the CeBit technology conference in Hannover, Germany.

SAP Not in Merger Talks, CEO Says Christopher Lawton 2011