SAP SE aims for the highest standards of corporate integrity. We welcome the conclusion of the investigations before the U.S. Department of Justice (DOJ), U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC), and U.S. Department of Commerce, Bureau of Industry and Security (BIS).
As noted in the settlement agreements, SAP conducted a thorough and extensive investigation into historical export controls and economic sanctions violations. We accept full responsibility for past conduct, and we have enhanced our internal controls to ensure compliance with applicable laws. Our significant remediation efforts, combined with our full and proactive cooperation with U.S. authorities, have led to a mutually agreeable resolution of the Iran investigation without the imposition of an external monitor.
Indeed, SAP remains committed to maintaining a robust, world-class export controls and trade sanctions compliance program so that, together with a global network of customers, partners, employees and thought leaders, we can help the world run better and improve people’s lives.
Media Contacts:
Joellen Perry, +1 (650) 445-6780, joellen.perry@sap.com, PT
Marcus Winkler, +49 (6227) 7-67497, marcus.winkler@sap.com, CET
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.
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