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The European Commission launched an antitrust probe into German software behemoth SAP on Thursday, citing concerns about the company’s practices in software support services.
According to the Commission, the investigation will assess “whether SAP may have distorted competition in the aftermarket for maintenance and support services related to an on-premises type of software, licensed by SAP, used for the management of companies’ business operations.”
SAP, in a statement on Thursday, said it believed its policies and actions were fully compliant with EU competition rules.
“However, we take the issues raised seriously and we are working closely with the EU Commission to resolve them,” a spokesperson said. “We do not anticipate the engagement with the European Commission to result in material impacts on our financial performance.”
SAP is one of Europe’s most valuable companies, with a market cap of almost 282 billion euros ($331 billion).
Shares of the firm moved lower on Thursday, losing 1.4% by 11:48 a.m. in London (6:48 a.m. ET).
