German business software group SAP may speed up a shift towards providing its products over the internet in order to tap demand for so-called cloud services and take advantage of Germany's reputation for data privacy, it said on Friday.SAP and rivals such as IBM and Oracle are dashing to meet surging demand for cloud computing, which allows clients to reduce costs by ditching bulky local servers for network-based software and storage in remote data centres.With the cloud services market forecast to grow 18.5 percent this year to $131 billion worldwide, according to research firm Gartner, competition is fierce and software firms face a challenge to adapt."We have a situation now where we see the move to the cloud, particularly in certain markets like North America, happening even faster, and this is a great opportunity for us to revisit whether we should accelerate the move to the cloud," SAP co-chief executive Jim Hagemann-Snabe said at a Morgan Stanley investor conference on Friday.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $30.89. In the past year, the shares have traded as low as $16.23 and as high as $30.78. On average, 13173400 shares of MS exchange hands on a given day and today's volume is recorded at 0.
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