Monday, December 23, 2024
Monday, December 23, 2024
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SAP to swallow Israeli-based WalkMe for $1.5b

The deal is expected to be closed in the third quarter of this year

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  • SAP has articulated its intention to merge WalkMeX with its own Joule copilot.

SAP, a German software firm, has announced its plan to acquire WalkMe, a Saas company based in Tel Aviv, for a significant sum of $1.5 billion.

The agreement, approved by the boards of both companies, values WalkMe at 14 per share, representing a remarkable 45 per cent premium over its recent closing price.

 The completion of this acquisition is contingent upon meeting customary closing conditions and is anticipated to finalise in the third quarter of this year.

SAP has articulated its intention to merge WalkMeX with its own Joule copilot, a move that underscores its commitment to enhancing user experience and maximising the value of IT investments.

Empowering users

The strategic acquisition of WalkMe aligns with SAP’s broader corporate strategy, complementing its previous acquisitions like Signavio, a business process automation firm purchased for $1.2 billion in 2021, and LeanIX, an enterprise architecture management company acquired late last year.

“Applications, processes, data, and people are the four key elements of a successful business transformation,” SAP’s CEO Christian Klein, said.

By integrating WalkMe into its portfolio, SAP aims to empower end users in swiftly adopting new solutions and features, thereby optimising the returns on their IT investments.

This acquisition marks a significant step forward in SAP’s quest to offer comprehensive support to businesses undergoing digital transformation.

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