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China's JD.com Targets $2.6 Billion German Takeover--And Investors Are Paying Attention
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SAP braces for IT spending lull as tariff woes intensify
This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Dive Brief: SAP is bracing for economic challenges sparked by shifting U.S. trade policy, executives said Tuesday during the company's Q2 2025 earnings call for the three months ending June 30. 'We have seen in the last few weeks that suddenly customers needed additional approval at the very top, so deal cycles just become longer because there [are] much more strict cost controls,' CEO Christian Klein said. 'We are not losing these deals. We just now need to be more diligent in managing the closing plans.' The Germany-based ERP vendor saw revenue grow 9% year over year to $10.6 billion (9 billion euros), largely driven by revenue surges in cloud and cloud ERP suite of 24% and 30%, respectively. However, SAP's current cloud backlog — a measure of contractually committed spend the company expects to roll into revenue over the next 12 months — declined slightly quarter over quarter, to $21.3 billion (18.1 billion euros) from $21.4 billion (18.2 billion euros) in Q1. Dive Insight: SAP completed a year-long internal restructuring around subscription-based ERP software services and generative AI deployments during the first three months of the year. Yet, immediate and long-term challenges remain for the 53-year-old enterprise technology vendor. ERP migrations are resource-intensive initiatives that can take months or years for a large organization to complete. SAP has enticed customers reluctant to shutter on-premises systems, offering technical support assurances, discount credits and embedded AI features as the clock ticks down toward the end of mainstream support services for legacy SAP ERP Central Component software suites in two years. SAP's $2.18 billion reorganization, which included the elimination of 10,000 jobs, has evolved into a period of ongoing optimization, according to CFO Dominik Asam. 'We are starting to sharpen the pencil for the planning exercise for the coming years,' Asam said, pointing to potential 1% to 2% workforce reductions later this year. AI adoption is now a lynchpin in SAP's ongoing transformation. The company's Joule AI assistant contributed to a 50% productivity boost in 'selected sales roles' and reduced the time it takes to resolve human resources inquiries by 20%, according to Klein. 'Transformation includes reskilling … reductions in areas with lower resource demand and hiring in shop profiles that define the future of our company, such as data and Business AI,' said Klein. 'It's our obligation to always look at our workforce and do our job and do … very distinct measures on reducing profiles where we don't need the people anymore.' With the end-of-support deadline looming, the company is leaning on technology partnerships to help spur migrations. SAP expanded alliances with AWS and Microsoft in the last eight months and helped EY, DXC and Kyndryl beef up their SAP migration consulting practices earlier this year. In May, the company joined forces with China-based cloud provider Alibaba Group to drive cloud ERP adoption in the region. Alibaba is key because we now have a partner to 'deliver our cloud in China for China,' Klein said. The China market is smaller than the U.S. or Germany, Klein added, but 90% of multinational companies have a footprint in the region. While SAP does not disclose China-specific earnings data, Asam said that the U.S. accounted for nearly one-third of SAP's Q2 revenues.
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China's JD.com Targets $2.6 Billion German Takeover--And Investors Are Paying Attention
(NASDAQ:JD) is deep in talks to acquire German electronics chain Ceconomy AG (MTAGF) in a potential 2.2 billion ($2.6 billion) dealsignaling a calculated push beyond China's borders. The proposed offer stands at 4.60 per share in cash, a 23% premium to Ceconomy's last closing price of 3.75. While the offer isn't binding yet, it marks a renewed attempt by to build a stronger presence in Europe, after walking away from a bid for UK retailer Currys last year. Shares of Ceconomy surged as much as 15.5% on the news. Warning! GuruFocus has detected 2 Warning Sign with JD. The road ahead, though, isn't guaranteed. has been sounding out Ceconomy's biggest shareholdersincluding legacy families like the Kellerhals and Haniel groupsbut some have shown reluctance to lock in firm commitments. Without their support, a formal bid could still stall. The revival of talks, first reported back in February, shows JD's sustained interest in the Frankfurt-listed company, particularly as it looks to counter slowing growth at home through international retail assets with operating scale. Ceconomy runs over 1,000 stores across Europe under the MediaMarkt and Saturn brandsgiving a ready-made retail footprint if the deal closes. Analysts note the tie-up could unlock synergy between JD's logistics infrastructure and Ceconomy's physical presence on the ground. That combination may offer strategic value, especially in last-mile delivery and customer engagement. For now, investors will be watching whether can secure the shareholder backing it needs to take the next step. This article first appeared on GuruFocus. Sign in to access your portfolio
