German software giant SAP has agreed to buy WalkMe in an all-cash deal valued at about $1.5 billion.
FILE - The board members of German software company SAP stand behind the company logo at its headquarters in Walldorf near Heidelberg, southwestern Germany, July 31, 2008. SAP has agreed to buy WalkMe in an all-cash deal valued at about $1.5 billion.
– The acquisition of WalkMe, a digital adoption platform operator that works with organizations on needs like improving productivity and lowering risk, would strengthen SAP's business management portfolio — specifically with AI offerings, the companies said in a joint announcement Wednesday.
Dan Adika, CEO of Israel-based WalkMe, added that the deal would provide the software-as-service company with the resources and customer base necessary to expand its market reach — pointing to “substantial growth opportunities.”The companies expect the transaction to close in the third quarter. The deal is subject to customary closing conditions, including regulatory approval.
The $1.5 billion offer price, which divvies out to about $14 per share, represents a 45% premium to WalkMe’s Tuesday closing share price. WalkMe went public in June 2021 at $31 a share.Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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