SAP buys WalkMe for $1.5B to expand AI offerings
The deal sets the price of WalkMe shares at $14 per share, which is a 45.2% increase over the price at which they closed on Tuesday. According to SAP, the addition of WalkMe technology brings the company’s Business Transformation Management offering to a higher level.
SAP has made the announcement that it would be purchasing WalkMe, a supplier of digital adoption platforms, for $1.5 billion. This acquisition is intended to enhance SAP’s artificial intelligence products.
In a transaction that is expected to enhance SAP’s artificial intelligence (AI) products, the German business software developer SAP (SAP) has reached an agreement to acquire the digital adoption platform provider WalkMe (WKME) for a cash payment of $1.5 billion.
According to an announcement made by SAP on Wednesday, the arrangement will pay WalkMe investors $14 per share, which is a 45.2% premium over the price at which WalkMe closed on Tuesday.
Following the news, WalkMe shares had a meteoric rise during intraday trading on Wednesday, coming dangerously close to surpassing the offer price threshold.
What Advantages WalkMe Will Bring to SAP’s Offerings
Located in Tel Aviv Through the use of WalkMe, businesses are able to better manage processes across a variety of apps. In a statement, SAP said that its technology “complements SAP’s Business Transformation Management portfolio around SAP Signavio and SAP LeanIX solutions to help customers.” Signavio was bought by SAP in 2021, while LeanIX was acquired by SAP in September of last year.
The article is entitled “SAP Completes Acquisition of Signavio.”
As a result of the acquisition, SAP is “doubling down on the support we provide our end users, helping them to quickly adopt new solutions and features to get the maximum value out of their IT investments,” according to Christian Klein, the CEO of SAP.
It is anticipated that the acquisition would be finalized within the third quarter.
As of 3:30 p.m. Eastern Time (ET), WalkMe shares reached their highest level since 2022, having increased by more than 42 percent during intraday trading on Wednesday. SAP’s American depositary receipts (ADRs) also had a positive performance, increasing by 2% to reach $187.89.
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