6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

January 16, 2008

Commission file number:

1-14251

SAP AG

(Exact name of registrant as specified in its charter)

SAP CORPORATION

(Translation of registrant’s name into English)

Dietmar-Hopp-Allee 16
69190 Walldorf
Federal Republic of Germany
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F      þ Form 40-F      o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes      o No      þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-___.

SAP AG

FORM 6-K

On January 16, 2008, SAP AG, a stock corporation organized under the laws of the Federal Republic of Germany (“SAP”), issued a press release announcing next steps in its successful acquisition of Business Objects S.A., a société anonyme organized under the laws of the Republic of France (“Business Objects”). In addition, SAP and Business Objects issued a joint press release announcing certain initial joint product offerings and a second joint press release announcing support by partners of both companies. The press releases are attached hereto as Exhibits 99.1, 99.2 and 99.3, respectively, and incorporated by reference herein.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including SAP’s most recent Annual Report on Form 20-F for 2006 filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

2

EXHIBITS

Exhibit No.	Exhibit
99.1	Press release issued by SAP AG dated January 16, 2008
99.2	Joint press release issued by SAP AG and Business Objects S.A. announcing joint product offerings dated January 16, 2008
99.3	Joint press release issued by SAP AG and Business Objects S.A. announcing partner support dated January 16, 2008

3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SAP AG (Registrant)
By:	/s/ Werner Brandt
	Name:	Werner Brandt
	Title:	Chief Financial Officer
By:	/s/ Michael Junge
	Name:	Michael Junge
	Title:	General Counsel

Date: January 16, 2008

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EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Press release issued by SAP AG dated January 16, 2008
99.2	Joint press release issued by SAP AG and Business Objects S.A. announcing joint product offerings dated January 16, 2008
99.3	Joint press release issued by SAP AG and Business Objects S.A. announcing partner support dated January 16, 2008

5

EX-99.1

For Immediate Release
Jan. 16, 2008

SAP and Business Objects Unite to Lead Emerging Market for Business
Performance Optimization

Market Leaders Share Vision to Connect People, Information and Businesses
Across Networks; Companies Announce First Joint Offerings

     WALLDORF, Germany / PARIS / SAN JOSE, Calif. — Jan. 16, 2008 — SAP AG (NYSE: SAP) today announced next steps in the successful acquisition of Business Objects (NASDAQ: BOBJ; Euronext Paris: ISIN code FR0004026250 — BOB), uniting two of the technology industry’s biggest brands with a shared vision to transform the way the world works by connecting people, information and businesses. With a broad showing of support from shareholders and business partners, SAP and Business Objects now embark on a road map to transform their wide lead in the market of software for business users into leadership in the emerging market for business performance optimization. As a first indication of the successful pace of the companies’ integration, SAP and Business Objects also announced an initial slate of joint product offerings, enabling deep, operational intelligence to improve business performance for customers in multiple industries worldwide.

     On January 15, 2008, SAP announced the successful all-cash tender offers for Business Objects S.A. securities. (See related announcement, titled “SAP France’s Cash Offers for Business Objects Securities Are Successful.”) As the global market leaders in business software and business intelligence (BI), SAP and Business Objects have thousands of joint customers, highlighting the synergies that companies are already leveraging by combining the existing products from SAP and Business Objects. With roughly 7,000 employees in the Business Objects organization and SAP unit supporting business user applications, the combination represents a leading organization targeting the business user market.

     “With the distinct combination of best-in-class software for performance management and analytical insight, we believe that SAP and Business Objects have the clearest vision and the

SAP and Business Objects Unite to Lead Emerging Market for Business Performance Optimization Page 2

strongest products to lead this market into the next wave of innovation with business performance optimization,” said Henning Kagermann, CEO of SAP. “With our delivery of SAP® Business Suite on an industry-first business process platform and the introduction of SAP® Business ByDesign to drive new volume business in the midmarket, we have achieved two of three major milestones in our growth strategy. SAP is now seizing a significant opportunity to pursue the third component of our strategy: leading the market for business user solutions. For SAP, this is the right partner, right timing and right market segment to acquire market-leading innovation that enhances business value for our customers.”

Business Objects Acquisition Complements Growth Strategy and Targets Trends

     The acquisition of Business Objects complements SAP’s existing growth strategy, granting immediate leadership in the market for business user solutions—tools and applications designed to help companies organize and manage information to optimize everyday business activities and improve the way employees work. It allows SAP to reach new customers and expand its footprint in existing accounts. SAP already has paved strong inroads into this market with its proven solutions for governance, risk and compliance (GRC), corporate performance management (CPM) and business intelligence.

     Growth in the business user segment is being driven by three major trends transforming the business environment: First, companies need to make decisions more effectively based on a broader array of data sources from both inside and outside the enterprise, and from structured and unstructured sources. Second, today’s business users need better tools and applications that go beyond individual views to support collaborative decision-making. Third, companies are seeking competitive advantage by extending beyond their businesses to create and manage business networks with partners, suppliers and customers.

     Today, Business Objects provides the market-leading BI platform and tools that unlock information, enable business insight, performance management and financial management, independent of the underlying business applications and data stores. While maintaining and supporting this market-leading portfolio, SAP and Business Objects will work together to build new applications to help business users, teams and companies to better collaborate through networks.

SAP and Business Objects Unite to Lead Emerging Market for Business Performance Optimization Page 3

New Market Opportunity Emerges for Business Performance Optimization

     Together, SAP and Business Objects will tightly link business information with business processes to enable companies to translate insight into action. As an independent business unit of the SAP Group, Business Objects will leverage its market leading portfolio on top of any business application environment (SAP or non-SAP) to meet the needs of all customers. As such, Business Objects leverages the application and technology choices customers have made in the past, enabling them to continue gaining value from their investments.

     When combined with the industry’s only available business process platform—enabled by SAP Business Suite applications—the portfolio from Business Objects will enable customers to further optimize business performance. Today, powerful business intelligence solutions help companies gain valuable insight and improved decision-making, resulting in improved performance. Often, however, companies fail to leverage the full potential value from those decisions—the value that can come from changing existing processes to assure that the business operations going forward benefit continuously from the insight and decisions taken. This creates a gap between strategy and continuous execution improvement.

     With the power and flexibility of a business process platform, process components can be easily adapted and recomposed. When the Business Objects portfolio is combined with the SAP offering, companies will be able to more easily implement process changes resulting from strategic decisions or business events, more efficiently execute across organizational lines, and respond to events in real time. This effectively “closes the loop” between strategy and execution, enabling not only better decision making, but adjustments and optimization of business process in real time, promising new opportunities for business performance optimization not previously available for customers.

     Further demonstrating its focus on delivering business value to customers through innovative technology, SAP also stated that it saw additional opportunities arising from combining Business Objects solutions with technologies from SAP. Looking forward, the BI platform from SAP and Business Objects will combine the core technologies found in SAP’s already successful SAP NetWeaver® BI Accelerator (see: http://www.sapintelalliance.com ) with Business Objects’ genome in database- and application-agnostic BI capabilities. This move promises dramatic improvements in performance and analysis capabilities to the company’s performance optimization applications, and to customer- and partner-built solutions built on the

SAP and Business Objects Unite to Lead Emerging Market for Business Performance Optimization Page 4

evolved BI platform of Business Objects. Another opportunity for additional business value comes from running Business Objects solutions with the SAP portfolio. Because SAP offers natively integrated business applications across more than 25 industries on a single, open platform—SAP NetWeaver—customers gain deep vertical capabilities not available from any other provider in the market today.

     “In our view, SAP customers now have a new internal ‘standard’ for business intelligence and performance management,” said Bruce Richardson, chief research officer, AMR Research. “This acquisition will help SAP achieve its goal of reaching business users. Business Objects customers will also benefit from SAP’s core strengths in building end-to-end business processes for a wide range of industries across the globe. If both parties continue to execute well, this is a win-win-win for SAP/Business Objects, customers and partners.”

Complementary Cultures Yield Organizational Synergies

     To spearhead the integration of combined teams, SAP will name Business Objects CEO John Schwarz to the SAP Executive Board; Doug Merritt, SAP corporate officer and head of the Business User division, joins the Business Objects Executive Committee. At its Annual General Meeting of Shareholders in May 2008, the SAP Supervisory Board intends to propose to elect Business Objects founder Bernard Liautaud to the SAP Supervisory Board. Until that time, Liautaud will have an advisory role to Henning Kagermann on aspects of strategy and integration. As part of the organization change, existing SAP groups supporting business user applications will move from SAP into the new Business Objects organization, allowing closer collaboration and development efforts to bring new offerings to market.

     “SAP and Business Objects share a common vision for the future of business intelligence,” said John Schwarz, CEO of Business Objects. “We see a world where people, processes and information are connected in a seamless, fluid, interactive, collaborative and insightful way. By joining forces with SAP, we gain considerable momentum to transform this vision into a near-term reality. As we lead the way in the evolving market for business performance optimization, our overall commitment will be to protect our customers’ investments and enable their growth and evolution in the face of ever changing market and business dynamics.”

SAP and Business Objects Unite to Lead Emerging Market for Business Performance Optimization Page 5

Joint Product Packages Offer Initial Customer Benefits

     In a sign of the first benefits that the combination will bring to customers, SAP and Business Objects today revealed nine joint product packages that will become available this month and will be sold by both organizations’ global sales teams. These packages were chosen to address the most common challenges facing the executive suite today, creating the first opportunities for companies to license, install and manage solutions from SAP and Business Objects in a single IT investment transaction.

     Among the initial packages announced for large enterprises are Financial Performance Management; Governance, Risk and Compliance; Visualization and Reporting; Enterprise Query, Reporting and Analysis; Master Data Services; and Data Integration and Data Quality Management. For small businesses and midsize companies, packages are BusinessObjects Edge Series; SAP® Business All-in-One with BusinessObjects Edge Standard; and Crystal Reports® Server. (See related announcement, titled “SAP and Business Objects Unveil First Joint Offerings.”) These new packages will be offered in addition to the existing portfolios of products available from SAP and Business Objects, which the companies will continue to innovate and support going forward.

Partner Community Embraces Convergence of Market Leaders

     The combination of SAP and Business Objects is meeting with positive market response. Partners of both SAP and Business Objects are embracing the transaction, seeing opportunities to serve additional customers and extend benefits through the combined offerings and open approach to the market. (For further market commentary on the merger, see addendum to this announcement, titled “Global Ecosystem Embraces SAP Acquisition of Business Objects.”)

     For more information about the SAP acquisition of Business Objects, please see www.sap.com/businessobjects or www.businessobjects.com/SAPacquisition.

About SAP

SAP is the world’s leading provider of business software*. Today, more than 43,400 customers in more than 120 countries run SAP® applications—from distinct solutions addressing the needs of small businesses and midsize companies to suite offerings for global organizations. Powered by the SAP NetWeaver® technology platform to drive innovation and enable business change, SAP software helps enterprises of all sizes around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP solution portfolios support the unique business processes of more than 25 industries, including high tech, retail, financial services, healthcare and the public sector. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” (Additional information at <http://www.sap.com>)

SAP and Business Objects Unite to Lead Emerging Market for Business Performance Optimization Page 6

(*) SAP defines business software as comprising enterprise resource planning and related applications such as supply chain management, customer relationship management, product life-cycle management and supplier relationship management.

About Business Objects

Business Objects has been a pioneer in business intelligence (BI) since the dawn of the category. Today, as the world’s leading BI software company, Business Objects transforms the way the world works through intelligent information. The company helps illuminate understanding and decision-making at more than 45,000 organizations around the globe. Through a combination of innovative technology, global consulting and education services, and the industry’s strongest and most diverse partner network, Business Objects enables companies of all sizes to make transformative business decisions based on intelligent, accurate, and timely information.

Business Objects has dual headquarters in San Jose, Calif., and Paris, France. The company’s stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 — BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com.

# # #

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

This press release contains forward-looking statements concerning the anticipated benefits and synergies of the acquisition, the companies’ anticipated combined operations, product offerings and services, Business Objects’ ability to protect customers’ investments and to continue to innovate and support existing product portfolios, and the timing of the availability of joint product offerings. Actual events or results may differ materially from those described in this release due to a number of risks and uncertainties. These potential risks and uncertainties include, among others, integration-related risks, customer and partner uncertainty regarding the anticipated benefits of the transaction, , the failure to retain key Business Objects employees, the failure of SAP and Business Objects to achieve the anticipated synergies of the acquisition and other risks detailed in Business Objects’ SEC filings, including those discussed in Business Objects’ quarterly report on Form 10-Q for the quarter ended September 30, 2007, which is on file with the SEC and available at the SEC’s website at www.sec.gov. Business Objects is not obligated to update these forward-looking statements to reflect events or circumstances after the date of this document.

The Business Objects logo, BusinessObjects, Crystal Reports, Crystal Decisions, Intelligent Question, and Xcelsius are trademarks or registered trademarks of Business Objects in the United States and/or other countries. All other names mentioned herein may be trademarks of their respective owners.

Copyright © 2008 SAP AG. All rights reserved.

SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary.

Note to editors:

For free video content about SAP, please log onto www.thenewsmarket.com/sap to preview and request video. You can receive broadcast-standard video digitally or by tape from this site. Registration and video is free to the media.

For customers interested in learning more about SAP products:

Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)

For more information, press only:

Herbert Heitmann, SAP, +49 (6227) 7-61137, herbert.heitmann@sap.com, CET
Christoph Liedtke, SAP, +49 6227 7-50383, christoph.liedtke@sap.com, CET
Lindsey Held, +1 (650) 320-3542, lindsey.held@sap.com, PST
Andy Kendzie, +1 202 312-3919, andy.kendzie@sap.com, EST

SAP and Business Objects Unite to Lead Emerging Market for Business Performance Optimization Page 7

SAP Press Office, +49 (6227) 7-46315, CET; +1 (610) 661-3200, EST; press@sap.com
Sabrina Guttman, Business Objects, +1 408 953 6326, sguttman@businessobjects.com, PDT
Philippe Laguerre, Business Objects, +33 (1) 41 25 38 15, plaguerre@businessobjects.com, CET

For more information, financial analysts only:

Stefan Gruber, SAP, +49 (6227) 7-44872, investor@sap.com, CET
Martin Cohen, SAP, +1 (212) 653-9619, investor@sap.com, EST

EX-99.2

For Immediate Release
Jan. 16, 2008

SAP and Business Objects Unveil First Joint Offerings

Kick-Off Go to Market Activities with First Combined Product Packages; Customers Gain Solutions for Business Insight, Performance Management, and Compliance

          WALLDORF, Germany / PARIS / San Jose, Ca. — Jan. 16, 2008 — As a first indication of the successful pace of integration of the two companies, SAP AG (NYSE: SAP) and Business Objects S.A. (NASDAQ: BOBJ; Euronext Paris: ISIN code FR0004026250 — BOB) today revealed nine joint product packages, available this month, that will be sold by both organizations’ global sales teams. These packages were chosen to address the most common challenges facing business users from the C-suite to main street, which include: gaining better business insight, improving company performance and ensuring compliance with corporate governance policies. These packages will allow companies to license, install and manage solutions from SAP and Business Objects in a single IT investment transaction.

          The companies detail these new product packages in conjunction with today’s announcement acknowledging the next steps in SAP’s successful acquisition of Business Objects (see press release entitled “SAP and Business Objects Unite to Lead Emerging Market for Business Performance Optimization.”) With a broad showing of support from shareholders and business partners, SAP and Business Objects now embark on a road map to expand their wide lead in the market of software for business users into leadership in the emerging market for business performance optimization.

          “Our initial combined software packages enable new customers to experience the business value gained by the thousands of customers that are successfully running applications from the SAP and Business Objects solution portfolios,” said Léo Apotheker, deputy CEO and president of Customer Solutions and Operations, SAP. “These initial offerings underline the already strong synergies in both our product and sales organizations, and foreshadow how quickly we will bring our two companies together. We fully intend to build upon these offerings

SAP and Business Objects Unveil First Joint Offerings Page 2

and provide our customers with the innovative, market-leading solutions they’ve come to expect from SAP and Business Objects. United by a shared vision to transform the way the world works by connecting people, information and businesses, this is the first demonstration of how we will protect and expand our customers’ IT investments, while helping them to further optimize business performance.”

Software Packages from SAP and Business Objects Deliver Immediate Benefits to Customers of All Sizes

          The nine new software “packages” combine solutions from SAP and Business Objects in groupings designed to help customers hone in and address particular business challenges. For example, the new Financial Performance Management (FPM) package will give business executives the tools they need to help ensure that day-to-day execution maps to the company’s overall business strategy and goals. The FPM package will also empower business users to help their company performance excel. The initial packages fall into three categories: performance optimization applications, business intelligence platform capabilities and packages specifically for the small and midsize market.

          Performance optimization applications provide business users with the industry’s most complete solutions for improving corporate performance and ensuring accountability. In addition, the applications empower employees across the organization with the tools and insight to proactively contribute to their organizations’ success. The initial two packages for performance optimization are described below.

• Financial Performance Management (FPM) package – Provides an end-to-end suite of applications which CFOs and other business leaders rely on to increase their companies’ financial performance and operational efficiency. This package helps business users to align everyday execution with their company’s overall business strategy by providing user-friendly planning, budgeting, consolidation, and profitability analysis solutions.

• Governance, Risk, and Compliance (GRC) package – Gives executives and line of business employees the tools and solutions to mitigate risks and confirm compliance with corporate governance policy. GRC solutions provide operational transparency and evidence that business is conducted within ethical standards and regulatory mandates.

          The SAP and Business Objects business intelligence platform gives customers a scalable infrastructure that delivers accurate, timely and actionable insight. The business intelligence

SAP and Business Objects Unveil First Joint Offerings Page 3

platform also provides access to data of any type and is agnostic to the underlying business applications and data stores. Packages within the business intelligence platform include:

• Visualization and Reporting package – Enhances visibility into business by simplifying access to any data sources for all users with interactive, easy-to-use reports and dashboards. Enables employees to create and distribute visually stunning reports from within Microsoft Office.

• Enterprise Query, Reporting, and Analysis package – This is an extension to the Visualization and Reporting package which empowers business users with powerful interactive tools to gain quick business insight. Provides trusted and consolidated business insight from all organizational data in users’ preferred environments including mobile, widgets, or search box.

• Data Integration and Data Quality Management package – Delivers enterprise-class data integration capabilities which manage and clean data from both SAP and non-SAP sources.

• Master Data Services package – Enables businesses to consolidate, harmonize and centrally manage critical business data. Compliant with industry data standards to help ensure easy data synchronization across global supply chains.

     In addition, three packages have been specially engineered, packaged and priced for small and midsize enterprises (SMEs). These packages provide complete, simplified business optimization applications and business intelligence platform capabilities, which are easily integrated into customers existing IT infrastructure. The packages for SMEs include:

• SAP® Business All-in-One with BusinessObjects Edge Standard package – Combines the most robust business process platform designed specifically for the mid to upper-end of the mid market, with the market’s most comprehensive BI offering for SMEs. It will be available this month from both SAP and Business Objects’ field organization and channel partners.

• Crystal Reports® Server package – For the first time, the SAP channel will be able to provide Crystal Reports Server, a complete reporting solution for small and medium-sized businesses, directly to its install base offering their customers the benefits and simplicity of working with a single IT vendor.

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• BusinessObjects Edge Series package – The Business Objects channel will continue to offer the BusinessObjects Edge Series to its SME customers. The BusinessObjects Edge Series now includes integration for SAP Solutions, giving midsize SAP customers enhanced reporting and analysis capabilities.

Availability

All packages will be available later this month. For more details on the packages, please visit

www.sap.com/businessobjects or www.businessobjects.com/SAPacquisition .

About SAP

SAP is the world’s leading provider of business software*. Today, more than 43,400 customers in more than 120 countries run SAP^® applications—from distinct solutions addressing the needs of small businesses and midsize companies to suite offerings for global organizations. Powered by the SAP NetWeaver^® technology platform to drive innovation and enable business change, SAP software helps enterprises of all sizes around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP solution portfolios support the unique business processes of more than 25 industries, including high tech, retail, financial services, healthcare and the public sector. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” (Additional information at <http://www.sap.com>)

(*) SAP defines business software as comprising enterprise resource planning and related applications such as supply chain management, customer relationship management, product life-cycle management and supplier relationship management.

About Business Objects

Business Objects has been a pioneer in business intelligence (BI) since the dawn of the category. Today, as the world’s leading BI software company, Business Objects transforms the way the world works through intelligent information. The company helps illuminate understanding and decision-making at more than 45,000 organizations around the globe. Through a combination of innovative technology, global consulting and education services, and the industry’s strongest and most diverse partner network, Business Objects enables companies of all sizes to make transformative business decisions based on intelligent, accurate, and timely information.

Business Objects has dual headquarters in San Jose, Calif., and Paris, France. The company’s stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 — BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com.

# # #

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

This press release contains forward-looking statements concerning the availability of the companies’ joint product offerings, the details of the joint product offerings and the anticipated benefits of these offerings to customers, and Business Objects’ ability to protect customers’ investments and to continue to innovate and support existing product portfolios. Actual events or results may differ materially from those described in this release due to a number of risks and uncertainties. These potential risks and uncertainties include, among others, integration-related risks, customer and partner uncertainty regarding the anticipated benefits of the transaction, customer dissatisfaction with the joint product offerings, the failure to retain key Business Objects employees, the failure of SAP and Business Objects to achieve the anticipated synergies of the acquisition and other risks detailed in Business Objects’ SEC filings, including those discussed in Business Objects’ quarterly report on Form

SAP and Business Objects Unveil First Joint Offerings Page 5

10-Q for the quarter ended September 30, 2007, which is on file with the SEC and available at the SEC’s website at www.sec.gov. Business Objects is not obligated to update these forward-looking statements to reflect events or circumstances after the date of this document.
The Business Objects logo, BusinessObjects, Crystal Reports, Crystal Decisions, Intelligent Question, and Xcelsius are trademarks or registered trademarks of Business Objects in the United States and/or other countries. All other names mentioned herein may be trademarks of their respective owners.

Copyright © 2008 SAP AG. All rights reserved.

SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary.

Additional Information

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any Business Objects securities. The complete terms and conditions of the U.S. offer are set forth in the U.S. Offer to Purchase and related documentation filed with the U.S. Securities and Exchange Commission (the “SEC”) by SAP France on Schedule TO and the recommendation of the Business Objects board of directors with respect to the U.S. offer is set forth in the solicitation/recommendation statement filed with the SEC by Business Objects on Schedule 14D-9, as amended. The complete terms and conditions of the French offer are set forth in the Note d’Information and Note en Réponse filed by SAP France and Business Objects with the French stock exchange authority (Autorité des marchés financier, “AMF”) which are available on the websites of the AMF (www.amf-france.org) and respectively SAP France (www.sap.com) and Business Objects (www.businessobjects.com), and may be obtained free of charge respectively from SAP France SA and Deutsche Bank AG, and Business Objects.

Business Objects shareholders and other investors should carefully read all tender offer materials, including the U.S. Offer to Purchase and all related documentation filed by SAP AG and SAP France on Schedule TO, the Schedule 14D-9 and related amendments filed by Business Objects as well as the Note d’Information and the Note en Réponse filed by SAP France and Business Objects because these documents contain important information, including the terms and conditions of the tender offers. Business Objects shareholders and other investors can obtain copies of the tender offer materials and any other documents filed with the AMF from the AMF’s Web site (www.amf-france.org) or with the SEC at the SEC’s Web site (www.sec.gov), in both cases without charge. Materials filed by SAP AG and SAP France may also be obtained for free at SAP’s Web site (www.sap.com), and materials filed by Business Objects may be obtained for free at Business Objects’ Web site (www.businessobjects.com). Stockholders and other investors are urged to read carefully all tender offer materials prior to making any decisions with respect to the Offers.

Questions and requests for assistance may be directed to the Information Agent, Georgeson Inc. (199 Water Street, 26th Floor, New York, New York 10038-3650; North America Toll Free Number: (866) 574-4069; Outside North America Collect: (212) 440-9800; European Toll Free Number: 00800 6570 6570) or the Dealer Manager, Deutsche Bank Securities Inc. (60 Wall Street, New York, New York 10005; Call Toll Free: (877) 221-7676). Requests for additional copies of the U.S. offer documents and other materials may be directed to the Information Agent, and will be furnished promptly at SAP France’s expense. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the U.S. offer. SAP France will not pay any fees or commissions to any broker or dealer or any other person (other than the Information Agent and the Dealer Manager) for soliciting tenders of securities pursuant to the U.S. Offer.

The publication or distribution of this press release may be subject to statutory or regulatory restrictions in certain countries. The press release is not addressed to individuals subject to such restrictions, either directly or indirectly. Receipt of this press release does not constitute an offer in countries where a tender offer or an offer of securities would be illegal.

Note to editors:

For free video content about SAP, please log onto www.thenewsmarket.com/sap to preview and request video. You can receive broadcast-standard video digitally or by tape from this site. Registration and video is free to the media.

For customers interested in learning more about SAP products:

Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)

For more information, press only:

Shabana Khan, +1 650 461-1332, shabana.khan@sap.com, PDT
Christoph Liedtke, SAP, +49 6227 7-50383, christoph.liedtke@sap.com, CET
SAP Press Office, +49 (6227) 7-46315, CET; +1 (610) 661-3200, EST; press@sap.com
Sabrina Guttman, Business Objects, +1 408 953 6326, sguttman@businessobjects.com, PDT
Philippe Laguerre, Business Objects, +33 (1) 41 25 38 15, plaguerre@businessobjects.com, CET

SAP and Business Objects Unveil First Joint Offerings Page 6

For more information, financial analysts only:

Stefan Gruber, SAP, +49 (6227) 7-44872, investor@sap.com, CET
Martin Cohen, SAP, +1 (212) 653-9619, investor@sap.com, EST

EX-99.3

For Immediate Release
Jan. 16, 2008

Global Ecosystem Embraces SAP Acquisition of Business Objects

Partners Worldwide See Opportunities, Extended Benefits of Combined Offerings and Open Approach

     WALLDORF, Germany / PARIS / SAN JOSE, Calif. — Jan. 16, 2008 — In a strong demonstration of support of the acquisition of Business Objects (NASDAQ: BOBJ; Euronext Paris: ISIN code FR0004026250 — BOB) by SAP AG (NYSE: SAP), partners of both companies worldwide voiced their endorsements, further underscoring the value of the combined offerings and open approach to the market. The partners issued their statements in conjunction with today’s announcement of the next steps in the pairing that unites the global market leaders in business software and business intelligence (see Jan. 16, 2008 press release titled, “SAP and Business Objects Unite to Lead Emerging Market for Business Performance Optimization”). The combination of SAP and Business Objects brings together best-in-class software for performance management and analytical insight, offering expanded opportunity for collaboration, innovation, and profitable growth, with the two market leaders sharing a common vision to transform the way the world works by connecting people, information and businesses across networks

     In the strongest evidence yet that SAP’s ecosystem strategy is delivering value to customers, partners, and developers, IDC recently declared the SAP ecosystem a thriving economy in its own right. (please see October 1, 2007 press release titled, “Leading Research Firm Declares SAP Ecosystem an Economy of its Own.”) With the addition of Business Objects’ extensive partner network, developer community and expertise in business analytics, the vibrancy of this ecosystem is further amplified.

     “The tremendous velocity of the SAP ecosystem has ushered in a new era of collaborative innovation,” said Zia Yusuf, executive vice president, Global Ecosystem and Partner Group, SAP. “Now, with the acquisition of Business Objects, the expanded ecosystem

Global Ecosystem Embraces SAP Acquisition of Business Objects Page 2

offers customers and partners deeper insight and expertise and accelerated opportunities for collaboration and innovation around governance, risk, and compliance (GRC), enterprise performance management, business intelligence (BI), and enterprise information management.”

     “The SAP ecosystem brings together SAP, thousands of customers, partners, communities of developers, and business process experts to co-innovate industry-leading solutions, access resources, and share best practices,” said Janet Wood, senior vice president, Global Partnerships, Business Objects. “We are excited about the opportunities for collaboration around performance optimization and business analytics, and look forward to expanding the dialog with this thriving community.”

Partners Offer Comments in Support of SAP and Business Objects

Service Partners:

Accenture

“According to 160 CIOs recently surveyed, more than 75 percent of organizations plan on having enterprise-wide analytics in three years time,” said Patrick Puechbroussou, managing director for Accenture’s SAP business. “Accenture works with organizations globally to successfully harness and manage information across the enterprise: SAP’s vision for business performance optimization aligns with ours. Our experienced practitioners, already familiar with SAP Business Suite and the Business Objects BI platform, will develop solutions that enable deeper analysis and drive performance through more competitive differentiation. And, the positive partnering environment already in place with both companies means we are optimistic about our joint business opportunities in this market.”

Capgemini

“Capgemini welcomes the acquisition of Business Objects by SAP. With this step, business intelligence capabilities are moved from being adjunct to business processes to core of the business – something which we describe as the ‘Intelligent Enterprise,’” said Paul Hermelin, CEO, Capgemini. “The combined business has a number of synergies and opportunities around the very hot market area of ‘Performance Management’ and we anticipate that this will bring highly flexible performance management solutions into the market that will be natively integrated into the operational applications speeding up the deployment of performance management solutions. We support this acquisition and look forward to future collaborating for the benefit of our mutual customers and continuing to deliver joint value to the market.”

Deloitte

“The Deloitte organization welcome SAP’s acquisition of BOBJ as a significant evolution of our strategic alliances with both companies,” said Ainar Aijala, global managing partner for Consulting at Deloitte. “The combination of the BOBJ business intelligence platform and applications with SAP’s arsenal of world-class technologies should further strengthen SAP’s

Global Ecosystem Embraces SAP Acquisition of Business Objects Page 3

ability to provide integrated, architected solutions to help customers meet their enterprise-wide information needs. The acquisition will strengthen Deloitte’s ongoing collaboration with SAP to help clients meet information management needs, including but not limited to GRC and CPM. As well, it will support Deloitte’s global CFO Program, financial excellence and compliance, integrated performance management, and, more broadly, business intelligence initiatives at our joint clients.”

IBM

“Companies seek to derive greater insight from their corporate information to help them innovate and drive strong results,” said Volker Loehr, IBM General Manager, SAP Alliance. “As a long time partner of both SAP and Business Objects, IBM enhances these business solutions with a proven, flexible infrastructure including servers and database technologies as well as industry-specific process and implementation know-how. Today, this already provides over 13.000 joint clients with strategic choice, global delivery capabilities and operational return for their projects and business.”

TCS

“TATA Consultancy Services Limited embraces SAP’s acquisition of Business Objects and sees it as an opportunity to serve additional customers and extend benefits through the combined offerings and open approach to the market,” said Mr. N. Chandrasekaran, COO, TCS. “TCS, with its strong industry and domain capabilities, will be looking forward to leveraging this combination of assets from the two market leaders and offering innovative solutions to our joint customers, providing them with significant business benefits.”

Wipro

“The combination of business process and analytics applications will enable a new level of business performance optimization that customers are asking for,” said P R Chandrasekar, president, Americas & Europe, Wipro. “We look forward to taking advantage of the expanded service offerings afforded by the union of SAP and Business Objects which, together with the deep domain experience of Wipro, will help customers extend the value of their enterprise applications and improve the business context of information.”

Software & Technology Partners:

Adobe

“Today, collaborative decision making is critical for business users across functions and business processes. We believe SAP and Business Objects have a compelling vision to meet those needs and together they will greatly improve how users analyze business data to make complex decisions more quickly,” said David Mendels, senior vice president, Business Productivity Business Unit, Adobe. “Adobe has strong relationships with both companies, beginning with SAP in 2003 with SAP Interactive Forms by Adobe and more recently with Business Objects in 2007 to combine the power of business intelligence with RIAs. We are excited about partnering with the newly combined company and joint prospects to revolutionize how business users engage with corporate information.”

Global Ecosystem Embraces SAP Acquisition of Business Objects Page 4

Callidus

“Customers are looking for new ways to extend the value of their enterprise applications and optimize business performance,” said Leslie Stretch, president and CEO, Callidus. “With the union of SAP and Business Objects, Callidus looks forward to building on the existing relationship with both companies and sees natural opportunities to continue to collaborate for the benefit of our mutual customers.”

HP

“HP has enjoyed successful partnerships with both SAP and Business Objects for many years, and we expect our partnership to be strengthened with the completion of SAP’s acquisition of Business Objects,” said Ann Livermore, executive vice president, Technology Solutions Group, HP. “With HP’s strong portfolio of business intelligence offerings, we will continue to work with SAP to provide integrated solutions to help our joint customers solve some of the most complex information challenges.”

Microsoft

“SAP and Business Objects are both longstanding partners of Microsoft. Our work with SAP has ranged from SAP applications running on Microsoft Windows and SQL Server to our joint Office Business Application development with Duet,” said Jeff Raikes, president Microsoft Business Division. “We’ve partnered with Business Objects for 15 years on Microsoft Visual Studio and more recently on the delivery of the Business Objects XI integration kit for Microsoft SharePoint Server. Microsoft enthusiastically supports the combination of SAP and Business Objects, and I welcome the opportunity to build on our joint efforts with these two great partners as they become one.”

Teradata

“Together, SAP and Business Objects offer a powerful combination of both a business information platform and a business process platform enabling companies to translate business insight into action,” said Darryl McDonald, chief marketing officer, Teradata. “We congratulate them on their new union and look forward to working together to deliver the best in enterprise analytics to our mutual customers.”

Channel Partners:

Contemporary – The Business Intelligence People, UK

“SAP’s acquisition of Business Objects combines the world’s largest business software company with the world’s leading BI software company,” said David Whitehead, managing director, Contemporary - The Business Intelligence People, UK. “This is exciting news for both existing and future customers looking to reduce costs, improve performance, and gain the agility to respond to changing business needs. Their combined strength will result in new, innovative offerings to meet the growing demands of today’s business users, regardless of company size.” 

Decision First

“The joint company will link together two vibrant and successful communities,” said Taylor Courtnay, Co-Founder and vice president of Sales, Decision First. “We are excited at the prospect of providing enhanced business information solutions and services to a wider range of customers, regardless of platform.”

Global Ecosystem Embraces SAP Acquisition of Business Objects Page 5

Dunn Solutions

“We are excited about the opportunity to continue to deliver powerful BI solutions to our customers – but with the added benefit of tighter integration” said Bill Dunn, CEO, Dunn Solutions. “We also feel comfortable that Business Objects will continue to support all of our clients, regardless of their platform, and stay true to its roots.”

IDS Scheer

“Together, SAP and Business Objects will offer high-value solutions for process- and business-oriented professionals,” said Wolfgang Köstler, director MidMarket Solutions Europe. “The solutions will be designed to enable companies to strengthen decision processes, increase customer value and create sustainable competitive advantage through real-time, multi-dimensional business intelligence. For us, IDS Scheer,  this combination will boost our ‘ARIS SmartPath solutions for SAP’ and will allow us to increase higher value for our midsize customers.”

itelligence

“We are very excited about the acquisition of Business Objects by SAP and look forward to collaborating to serve the needs of itelligence’s midmarket customers,” said Uwe Bohnhorst, COO, itelligence AG. “The combination of business process and analytics applications allows non-technical users to dramatically improve the quality of their decision making by instantaneously and easily providing the information that they need without having to leave their every day productivity tools.”

Navigator

“We are very excited about the acquisition of Business Objects by SAP,” said Grant Fraser, CEO, Navigator Business One Solutions. “Particularly with our small enterprise customers, we see a strong demand for transparency and advanced reporting capabilities — the union of those two companies will certainly help us better serve our customers’ needs and expand our user base.”

SDG Group

“The biggest opportunity we see is the possibility to extend our customer base to SAP customers who are not currently using Business Objects as a BI solution,” said Fabio Bombana, partner at SDG Group in Italy. “The combined company and offering will surely allow us to improve our positioning and to approach these customers with a stronger value proposition. We look forward to expanding our partnership with SAP and Business Objects.”

     For more information about the SAP acquisition of Business Objects, please see

www.sap.com/businessobjects or www.businessobjects.com/SAPacquisition.

# # #

Global Ecosystem Embraces SAP Acquisition of Business Objects Page 6

About SAP

SAP is the world’s leading provider of business software*. Today, more than 43,400 customers in more than 120 countries run SAP^® applications—from distinct solutions addressing the needs of small businesses and midsize companies to suite offerings for global organizations. Powered by the SAP NetWeaver^® technology platform to drive innovation and enable business change, SAP software helps enterprises of all sizes around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP solution portfolios support the unique business processes of more than 25 industries, including high tech, retail, financial services, healthcare and the public sector. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” (Additional information at <http://www.sap.com>)

(*) SAP defines business software as comprising enterprise resource planning and related applications such as supply chain management, customer relationship management, product life-cycle management and supplier relationship management.

About Business Objects

Business Objects has been a pioneer in business intelligence (BI) since the dawn of the category. Today, as the world’s leading BI software company, Business Objects transforms the way the world works through intelligent information. The company helps illuminate understanding and decision-making at more than 45,000 organizations around the globe. Through a combination of innovative technology, global consulting and education services, and the industry’s strongest and most diverse partner network, Business Objects enables companies of all sizes to make transformative business decisions based on intelligent, accurate, and timely information.

Business Objects has dual headquarters in San Jose, Calif., and Paris, France. The company’s stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 — BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com.

# # #

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

This press release contains forward-looking statements concerning Business Objects’ ability to continue to provide partners the opportunity to collaborate, innovate and benefit from profitable growth. All forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations. These potential risks and uncertainties include, among others, integration-related risks, customer and partner uncertainty regarding the anticipated benefits of the transaction, the failure to retain key Business Objects employees, the failure of SAP and Business Objects to achieve the anticipated synergies of the acquisition and other risks detailed in Business Objects’ SEC filings, including those discussed in Business Objects’ quarterly report on Form 10-Q for the quarter ended September 30, 2007, which is on file with the SEC and available at the SEC’s website at www.sec.gov. Business Objects is not obligated to update these forward-looking statements to reflect events or circumstances after the date of this document.

The Business Objects logo, BusinessObjects, Crystal Reports, Crystal Decisions, Intelligent Question, and Xcelsius are trademarks or registered trademarks of Business Objects in the United States and/or other countries. All other names mentioned herein may be trademarks of their respective owners.

Copyright © 2008 SAP AG. All rights reserved.

SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary.

Additional Information

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any Business Objects securities. The complete terms and conditions of the U.S. offer are set forth in the U.S. Offer to Purchase and related documentation filed with the U.S. Securities and Exchange Commission (the “SEC”) by SAP France on Schedule TO and the recommendation of the Business Objects board of directors with respect to the U.S. offer is set forth in the solicitation/recommendation statement filed with the SEC by Business Objects on Schedule 14D-9, as amended. The

Global Ecosystem Embraces SAP Acquisition of Business Objects Page 7

complete terms and conditions of the French offer are set forth in the Note d’Information and Note en Réponse filed by SAP France and Business Objects with the French stock exchange authority (Autorité des marchés financier, “AMF”) which are available on the websites of the AMF (www.amf-france.org) and respectively SAP France (www.sap.com) and Business Objects (www.businessobjects.com), and may be obtained free of charge respectively from SAP France SA and Deutsche Bank AG, and Business Objects.

Business Objects shareholders and other investors should carefully read all tender offer materials, including the U.S. Offer to Purchase and all related documentation filed by SAP AG and SAP France on Schedule TO, the Schedule 14D-9 and related amendments filed by Business Objects as well as the Note d’Information and the Note en Réponse filed by SAP France and Business Objects because these documents contain important information, including the terms and conditions of the tender offers. Business Objects shareholders and other investors can obtain copies of the tender offer materials and any other documents filed with the AMF from the AMF’s Web site (www.amf-france.org) or with the SEC at the SEC’s Web site (www.sec.gov), in both cases without charge. Materials filed by SAP AG and SAP France may also be obtained for free at SAP’s Web site (www.sap.com), and materials filed by Business Objects may be obtained for free at Business Objects’ Web site (www.businessobjects.com). Stockholders and other investors are urged to read carefully all tender offer materials prior to making any decisions with respect to the Offers.

Questions and requests for assistance may be directed to the Information Agent, Georgeson Inc. (199 Water Street, 26th Floor, New York, New York 10038-3650; North America Toll Free Number: (866) 574-4069; Outside North America Collect: (212) 440-9800; European Toll Free Number: 00800 6570 6570) or the Dealer Manager, Deutsche Bank Securities Inc. (60 Wall Street, New York, New York 10005; Call Toll Free: (877) 221-7676). Requests for additional copies of the U.S. offer documents and other materials may be directed to the Information Agent, and will be furnished promptly at SAP France’s expense. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the U.S. offer. SAP France will not pay any fees or commissions to any broker or dealer or any other person (other than the Information Agent and the Dealer Manager) for soliciting tenders of securities pursuant to the U.S. Offer.

The publication or distribution of this press release may be subject to statutory or regulatory restrictions in certain countries. The press release is not addressed to individuals subject to such restrictions, either directly or indirectly. Receipt of this press release does not constitute an offer in countries where a tender offer or an offer of securities would be illegal.

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For more information, press only:

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Sabrina Guttman, Business Objects, +1 408 953 6326, sguttman@businessobjects.com, PDT
Philippe Laguerre, Business Objects, +33 (1) 41 25 38 15, plaguerre@businessobjects.com, CET

For more information, financial analysts only:

Stefan Gruber, SAP, +49 (6227) 7-44872, investor@sap.com, CET
Martin Cohen, SAP, +1 (212) 653-9619, investor@sap.com, EST