WALLDORF, Germany -- SAP AG (NYSE: SAP) today announced that Portugal Telecom is the first worldwide provider of cloud services for the SAP Business One Cloud solution powered by SAP HANA. Portugal Telecom has set up a cloud environment for SAP Business One Cloud for both scalable, multi-tenant landscapes managed by Portugal Telecom and fully dedicated landscapes for use by partners looking to host and manage the solution for their clients. The announcement was made at Mobile World Congress 2014, being held February 24-27 in Barcelona, Spain.

Combining the flexibility of the cloud with powerful in-memory technology, SAP Business One Cloud powered by SAP HANA helps companies of all sizes improve their overall business execution through accessible, real-time data that provides clear insights. The solution enables small businesses or subsidiaries of large companies to manage critical business processes — such as sales, finance, accounting and inventory — in a cloud-based offering, streamlining operations with a complete, integrated solution. Customers will pay a subscription fee per user for a turnkey solution hosted by Portugal Telecom, which will help clients reduce the total cost of ownership of the solution and allow them to quickly realize value and benefits from their investments in the solution.

SAP AG (NYSE/Frankfurt: SAP)