SAP founder flogs €600 million shares

ONE OF the founders and major shareholders of SAP, which makes esoteric business software outfit,has sold more than €600 million worth of his company shares.

Klaus Tschira, one of the gang of four who founded the company, revealed the news in Financial Times Deutschland. He said that he had sold "nearly five million shares" or 1.6 percent of SAP's share capital via his family foundation.

The gang of four hold nearly a third of the company between them. Tschira owns close to 10 per cent.

It is not quite clear why Tschira felt he needed the extra cash. Maybe he wanted to buy himself something nice to make up for the fact that only a handful of people in the world know what his expensive software really does, none of them can travel on the same plane and none of them can explain the software at parties. µ