SAP Zooms In on the Metaverse Craze, Buys Taulia

German enterprise software company SAP SE has revealed it has an interest in the metaverse, says it will announce plans soon.
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Quick take:

  • SAP has acquired a majority stake in US fintech firm Taulia.
  • The German enterprise software company said it is eyeing opportunities in the metaverse.
  • The company is expanding its footprint in supply chain financing and working capital management.

SAP SE has acquired a majority stake in the US fintech firm Taulia. The German enterprise software company is looking to expand its addressable market in supply chain financing and working capital management. SAP also said it was eyeing opportunities in the metaverse.

The metaverse is an exciting virtual world created using 3D, augmented and virtual reality technologies, creating a virtual space where people can work, play and socialize.

“We have big partners reaching out to us asking for partnerships in the metaverse because of a lot of interesting B2B scenarios – think about learning, commerce and a few other business scenarios,” Chief Executive Officer Christian Klein said in an interview.

SAP is the latest giant technology company to leap into the metaverse after Meta and Microsoft revealed their exciting plans for what they call the next frontier of mobile internet.

The metaverse is an immersive world built on the latest iteration of the internet, Web 3.0. The first iteration, the WorldWideWeb was followed by the smartphone and social media, christened Web 2.0.

Klein said SAP will soon reveal its plans for the metaverse. 

The company reported a significant increase in fourth-quarter cloud revenues on Thursday, citing a significant shift towards cloud-based services. Cloud computing service providers are expected to play a crucial role in the metaverse.

Although SAP did not disclose whether Taulia’s acquisition is part of its metaverse plans, some of the leading technology companies like Microsoft have opted to buy companies that will give them an edge in the metaverse race, rather than build their own products from the ground up.

In a news article published on SAP’s official website last month, Benjamin Stoeckhert, business developer for Blockchain at SAP said “it is envisioned that a decentralized digital economy consisting of multiple platforms will arise based on the Metaverse.”

Stoeckhert also believes that the evolution of the blockchain technology into the trust layer would represent and transfer ownership of value within the Metaverse, adding that although the subject was still at the early stages of development, “it is highly relevant.”

SAP now seems to have taken a step further on those plans with Klein’s comments.

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