Tags: SAP | Concur Tech | Value | Billion

SAP to Buy Concur Tech for Enterprise Value of About $8.3 Billion

Thursday, 18 Sep 2014 05:58 PM

Germany's SAP SE, the biggest maker of business-management software, agreed to buy Concur Technologies Inc. of the U.S. in a deal valued at $8.3 billion, bolstering its cloud business.

SAP is paying $129 a share for Concur, a 20 percent premium over Thursday’s closing price, the companies said in a statement. The purchase will be funded from a credit facility agreement of up to 7 billion euros ($9.04 billion). The agreement was announced after regular stock market trading ended Thursday; in aftermarket trading in New York, Concur's shares were up more than 19 percent at $129.01.

The deal gives SAP a developer of software that helps businesses manage travel expenses. Earlier this month, SAP Chief Financial Officer Luka Mucic said the company’s Web-delivered computing software will outpace traditional software licenses by 2020.

The acquisition is expected to be completed in the fourth quarter or in the first quarter of 2015, according to the statement.

SAP has spent more than $13 billion since 2010 on acquisitions, including suppliers of Web-delivered software of human resources and purchasing.

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Germany's SAP SE, the biggest maker of business-management software, agreed to buy Concur Technologies Inc. of the U.S. in a deal valued at $8.3 billion, bolstering its cloud business.
SAP, Concur Tech, Value, Billion
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2014-58-18
Thursday, 18 Sep 2014 05:58 PM
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