German business software maker SAP can realize its growth target for its Internet-based or so-called cloud business without acquisitions, the company’s incoming financial chief said on Thursday. Analyst have suggested SAP will need to make more acquisitions to reach that goal. Luca Mucic, who will succeed Werner Brandt as financial chief next month told Reuters that he would keep an eye for potential targets, but that there is no need as sales in the cloud business jumped by more than a third in the first quarter. “We never have excluded acquisitions where we need to complete our portfolio and targets are available,” Mucic said.
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