Harding and Company – Alibaba Agrees Deal with Germany's Software Company SAP

MANHATTAN, N.Y. - Sept. 19, 2018 - PRLog -- Alibaba stock has been on a downward trend over the past few weeks after rumors of Jack Ma's departure were released, since then BABA have confirmed the timeline and clarified the details of Ma's leaving, which would have settled may investors nerves.

SAP, the German business software company, said on Wednesday it was teaming up with Alibaba to offer its flagship products on the Chinese company's cloud infrastructure.

SAP Chief Executive Bill McDermott said the group would offer its S/4HANA Cloud and SAP Cloud Platform products via Alibaba, enabling companies in China run their business processes using an Infrastructure as a Service (IaaS) model.

SAP, Europe's most valuable technology company, also cooperates with U.S. cloud providers as it encourages clients to make a transition away from running its software on on-site servers to remote data centres.

It recently launched a new marketing suite, called C/4HANA, which competes directly with cloud-based U.S. rival Salesforce (CRM.N).

This is another sign that Alibaba is committed to its expansion in Europe and by teaming up with one of the most prominent software companies in the EU, confirms that the cloud service it runs is on par with the likes of Amazon and Google.

Harding and Company continue to hold a STONG BUY rating on Alibaba Group Holding Limited, with a revised 60-90-day target price of beyond $230 per share.

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