Shares in SAP SE were up in early trade after the German software giant reportedly agreed to a settlement exceeding US$220 million to resolve bribery allegations involving government officials worldwide.
The activities, which reportedly took place from December 2014 to January 2022, allegedly involved payments and gifts funnelled through third-party consultants to secure business in regions including South Africa and Indonesia.
According to reports, the settlement, comprising a US$118.8 million criminal fine, follows SAP's cooperation with investigators, including disciplinary actions against involved employees.
The US Department of Justice and the Securities and Exchange Commission led the investigation. If SAP adheres to the agreement terms over the next three years, the US will dismiss the criminal charges.
The stock nudged €1.62 higher to €143.66.