The SAP enterprise-software spinoff has benefited from the acceleration of the digital transition amid the coronavirus pandemic.
“COVID-19 has created an inflection point for our customers," the company said as it announced a "strategic pivot" to cloud computing.
The deal comes as the company is spinning off Qualtrics.
The company was bought by SAP in 2018 for $8 billion, days before it was due to go public.
“The market has never really appreciated the co-CEO structure, though we believe SAP will lose a dedicated cloud salesperson with Jennifer.”
“Despite continued macro uncertainties we couldn't be more confident” that 2019 will be “another stellar year” for SAP, CFO Luka Mucic says.
Bill McDermott will be replaced by two board members, effective immediately.
He joins the company from SAP, where he held financial and business development roles critical to the software maker’s cloud transformation.
"Trade-related uncertainty in Asia impacted our software revenue performance in the region," CFO Luka Mucic says.
This year, many or even most deals likely will be driven by a company's desire to accelerate its digital transformation.
Lead-generation firm Televerde puts purpose over profit by employing hundreds of incarcerated women to make sales calls and improve their lives.
The company said it expects continued growth as it emphasizes its cloud business.
