European Commission launches antitrust probe into software giant SAP

The European Commission has initiated an antitrust investigation into SAP, the German software giant, addressing potential issues in the company's software support services. This inquiry aims to determine whether SAP has engaged in practices that could undermine competition in the aftermarket for maintenance and support services linked to its on-premises software used in managing corporate operations. SAP has responded to the announcement, asserting that it believes its business practices adhere to EU competition regulations. A spokesperson for the company stated, "We take the issues raised seriously and are cooperating with the EU Commission to find a resolution." They further expressed confidence that this engagement would not have significant effects on SAP's financial outcomes. Valued as one of Europe's leading companies, SAP boasts a market capitalization nearing 282 billion euros ($331 billion). Following the news of the probe, SAP's shares experienced a decline, falling 1.4% by late morning trading in London.