SAP, Dediq to Partner on Financial Services
April 13 2021 - 7:53AM
Dow Jones News
By Giulia Petroni
SAP SE said Tuesday that it has agreed to enter into a
partnership with Dediq GmbH to jointly expand its financial
services portfolio.
The German software company will form, along with Dediq, a
dedicated financial services industry unit that will focus its
investment on areas such as commercial lending, retail banking,
core insurance as well as insurance finance and bank
management.
The unit will be jointly owned by the two companies, with Dediq
investing more than 500 million euros ($595.6 million) in it,
according to SAP.
Pending antitrust approval, the unit should be in place in the
second half of the year, the company said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
April 13, 2021 07:38 ET (11:38 GMT)
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