SAP to Acquire Prior Labs to Establish a Globally Leading Frontier AI Lab in Europe

SAP has announced the acquisition of Prior Labs, a company specializing in Tabular Foundation Models. The acquisition is part of SAP's plan to establish a globally leading frontier AI lab in Europe. SAP will commit more than €1 billion over four years to scale Prior Labs into a major AI research center.

Prior Labs is known for developing AI models designed for structured data, such as spreadsheets. The company has been a pioneer in the field of Tabular Foundation Models, which are used for tasks like data analysis and prediction. SAP's investment will support Prior Labs' research and expand its capabilities.

The move comes as Europe seeks to strengthen its position in the global AI race. The acquisition is expected to close later this year, subject to regulatory approvals.