In a joint announcement Wednesday morning, International Business Machines Corp. (NYSE: IBM) and Germany-based SAP S.E. (NYSE: SAP) announced plans to create cognitive and cloud-based solutions for the two companies’ customers. The partners intend to locate development centers in Palo Alto, Calif., and Walldorf, Germany.
Bridget van Kralingen, senior vice president of IBM Global Business Services, said:
The future of business strategy and business value will proceed from the foundational elements of this announcement — cognitive, cloud and the design of consumer-quality experiences in every industry. We’re formalizing a complementary set of capabilities to simplify and speed outcomes for clients evolving to become cognitive enterprises.
The two companies expect the collaboration to include cloud-based and on-site solutions, cognitive capabilities, customer and user experience, integrated services and industry-specific roadmaps.
Rob Enslin, a member of SAP’s executive board and president of Global Customer Operations, said:
Today’s announcement builds on SAP’s commitment to enable strong, growing businesses that can seize the amazing opportunities of the digital economy. SAP S/4HANA is the reimagined suite of core business applications that has once again set the standard for the industry. I’m delighted that IBM and SAP will collaborate closely to give customers a clear roadmap to innovating new business models and outcomes that were never before possible.
IBM’s shares traded down about 1.3% Wednesday morning, at $148.04 in a 52-week range of $116.90 to $176.30.
SAP traded up about 0.5%, at $78.21 in a 52-week range of $62.57 to $81.24.
U.S. markets were mixed Wednesday morning, with the DJIA and S&P 500 index trading down and the Nasdaq Composite trading higher.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
