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TECHNOLOGY: Reports: DOJ Probe Into SAP And Carahsoft Price Fixing

TECHNOLOGY
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A1/A+                            EUR Spreads ~1bp Wider In Early Streaming

• BBG News reporting that SAP and Carahsoft are under DOJ civil probe for potential price-fixing, involving over USD 2bn in SAP tech sales to the US government since 2014.
• Investigation may extend to other software resellers and an Accenture subsidiary and focus on False Claims Act violations related to coordinated bidding i.e. SAP conspiring with Carahsoft to fix prices on SAP services as they were resold by Carahsoft to the government.
• Carahsoft is ranked 2nd in federal IT contracts since 2020 with USD 3.5bn; SAP tech accounts for ~USD 990mn of this in direct contracts and possibly USD 1bn more in additional sales.
• Legal risks highlighted have been a concern at SAP; recent issues include a USD 220mn settlement for bribery and ongoing criminal probes in Germany that saw the CTO step down amid harassment claims.

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A1/A+                            EUR Spreads ~1bp Wider In Early Streaming

• BBG News reporting that SAP and Carahsoft are under DOJ civil probe for potential price-fixing, involving over USD 2bn in SAP tech sales to the US government since 2014.
• Investigation may extend to other software resellers and an Accenture subsidiary and focus on False Claims Act violations related to coordinated bidding i.e. SAP conspiring with Carahsoft to fix prices on SAP services as they were resold by Carahsoft to the government.
• Carahsoft is ranked 2nd in federal IT contracts since 2020 with USD 3.5bn; SAP tech accounts for ~USD 990mn of this in direct contracts and possibly USD 1bn more in additional sales.
• Legal risks highlighted have been a concern at SAP; recent issues include a USD 220mn settlement for bribery and ongoing criminal probes in Germany that saw the CTO step down amid harassment claims.