Copy of our Tech M&A Outlook from the Bloomberg LP March 2012 conference in New York.

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While the overall analyst commentary generally has been pretty constructive and supportive of SAP’s $3.4 Billion bid for SuccessFactors, Inc., many questions remain.  Although many analysts believe SAP is overpaying for SuccessFactors (SFSF), in our view, the valuation is not unreasonable and is not the critical factor in assessing this deal.

For a 2nd time in less than a week, a purchase of a SaaS vendor reconfirmed our SaaS valuation model. IBM is paying $440Million in cash to acquire San-Mateo, CA-based DemandTec (DMAN).

According to the MGI SaaS valuation model, SAP did not overpay for its acquisition of SuccessFactors.

Leon Cooperman of Omega Advisors, has been buying into Research in Motion (RIM) stock on a belief that the new QNX-based operating system will exceed expectations and a takeover of RIM is likely. Both ideas carry significant risks.

Aside from the noise generated over the last couple of days about Google potentially acquiring Akamai, we see several other potential suitors.