Business software maker SAP AG (SAP) has ended talks to acquire Jive Software Inc. (JIVE), the Bloomberg News reported Friday, citing people familiar with the matter.
SAP held discussions within recent weeks to acquire Jive Software, a maker of social-networking applications for businesses, the report stated.
Waldorf, Germany-based SAP reportedly decided Jive's products overlapped too much with its own and wouldn't add enough market share to SAP.
A spokesman for SAP declined comment to Bloomberg and a spokeswoman for Jive also had no comment on the news.
Jive shares closed Friday at $16.67, up 5.68%, while SAP was down by 2.98% at $75.87.
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