Software AG to continue with acquisitions in 2014 - CEO

Reuters

FRANKFURT, Jan 28 (Reuters) - German business software maker Software AG is planning further takeovers for 2014, its chief executive told Reuters.

Karl-Heinz Streibich said the greatest number of companies offering software were to be found in the United States.

"Therefore, it's more likely that you'll find a takeover target there," he said after the group reported fourth quarter results.

Software AG, the second-largest German business software maker after SAP, acquired five companies last year for a total of around 110 million euros ($150.4 million), three of which were in the United States.

Streibich also confirmed the group's 2018 targets, under which sales should rise to 1.25 billion euros, compared with 973 million euros in 2013.

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