SAP logo in the SAP headquarters in Walldorf, Germany, January 24, 2017. REUTERS / Ralph Orlowski

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Jan 13 (Reuters) – German enterprise software group SAP (SAPG.DE) announced Thursday that revenue from its cloud computing business increased 28% in the fourth quarter as more customers move their IT operations to the cloud business database.

Cloud revenue rose to EUR 2.61 billion ($ 2.99 billion) in the fourth quarter ended December 31, the company announced in a preliminary earnings statement.

SAP is targeting cloud revenue growth of up to 26% in 2022, which should help cloud and software revenue grow by 4 to 6% overall.

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“More and more companies are choosing SAP to … become sustainable companies when building resilient supply chains and moving to the cloud,” said CEO Christian Klein in a statement.

The company posted a 6% year-over-year increase in total sales for …

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