SAP to buy U.S. fintech Taulia; eyes metaverse opportunities

FILE PHOTO: SAP logo at SAP headquarters in Walldorf, Germany, January 24, 2017. REUTERS/Ralph Orlowski/File Photo

STOCKHOLM/BERLIN (Reuters) -SAP said on Thursday it has agreed to buy a majority stake in privately held U.S. fintech firm Taulia as the German business software group seeks to expand its presence in supply-chain financing and working capital management.

SAP, which makes software for managing business processes and gets much of its revenue in recurring form, said it was also looking at opportunities in the 'metaverse' - virtual online worlds where people can work, play and socialize.