o9 Solutions files trade secret lawsuit against SAP

DALLAS - o9 Solutions, Inc. has filed a lawsuit against SAP SE and SAP America, Inc. (NYSE:SAP) in the U.S. District Court for the Northern District of Texas, according to a press release statement issued Tuesday. SAP, currently trading at $237.84 and with a substantial market capitalization of $275.69 billion, is facing this legal challenge while its shares hover near the 52-week low of $231.55.

The complaint alleges that SAP misappropriated o9’s trade secrets and confidential documents for use in SAP’s Integrated Business Planning supply chain management software and related commercial activities.

According to the filing, three former o9 executives allegedly downloaded over 20,000 confidential files before leaving to join SAP, where they now hold key positions. The lawsuit claims these individuals accessed sensitive materials related to o9’s technologies, architecture, technical design, marketing, sales, and business roadmaps.

o9 is seeking to prevent SAP from using the alleged misappropriated trade secrets and confidential information, as well as monetary damages. The AI-powered planning platform provider stated it will "vigorously protect" its intellectual property.

"o9 created its market-leading platform for AI-enabled enterprise planning and execution through extensive investments in research and development," said Chakri Gottemukkala, Co-Founder and CEO of o9, in the press release.

The lawsuit claims that with access to o9’s confidential business knowledge, SAP began marketing and selling technologies containing innovations developed by o9.

o9 Solutions is being represented by Kirkland & Ellis LLP in the legal proceedings against the German enterprise software giant.

In other recent news, SAP has been in the spotlight with several significant developments. The company is facing potential cartel proceedings after Celonis filed a complaint with Germany’s cartel office, alleging that SAP made it difficult for third parties to access data for analysis purposes. Meanwhile, SAP and Snowflake have announced a strategic partnership to integrate their data platforms, aiming to enhance AI capabilities for enterprise users. In another development, SAP reportedly made a takeover approach to BlackLine earlier this year, valuing the company at a price in the high $60s per share, though BlackLine rejected the offer.

On the financial front, Barclays has raised its price target on SAP to €348, maintaining an Overweight rating, citing optimism about the macroeconomic environment and improvements in the sales pipeline. Conversely, Berenberg has lowered its price target to EUR280, maintaining a Buy rating, due to foreign exchange impacts from a weakening US dollar. These updates follow SAP’s third-quarter 2025 results, which were characterized as solid by Berenberg, with robust cloud backlog growth exceeding expectations. These recent developments reflect SAP’s dynamic position in the market amidst both challenges and strategic opportunities.

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