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SAP buys Callidus Software for $2.4bn

SAP has revealed its biggest acquisition in more than three years, scooping up US-listed Callidus Software for an enterprise value of $2.4bn.

It comes as the company reported earnings for Q4, generating sales of €6.8bn in the period.

SAP's new cloud bookings, a keenly watched metric for future sales growth, grew 31% at constant currencies.