SAP shares closed up 4.8% on Monday after news emerged Google will stop using Oracle and adopt its internal financial software in the coming weeks, reports CNBC. There is no indication that Google is moving other systems off Oracle.
The change comes as Google and Oracle compete in the cloud computing market and follows a similar move from cloud leader Amazon.
The switch to SAP does not appear to be tied to the longstanding lawsuit between Google and Oracle on the former’s use of Java code in the Android operating system.
It is not clear how much money Google has paid Oracle for the financial software.
The effort to migrate off Oracle’s financial software required months of work and extensive engineering resources.SAP, Oracle, and Google stocks are currently declining. SAP: NYSE is down 2.21% on premarket, ORCL: NYSE is down 0.58% on premarket, GOOGL: NASDAQ is down 0.20% on premarket.
