Software Giant SAP To Acquire WalkMe By CIOTechOutlook Team

Software Giant SAP To Acquire WalkMe

CIOTechOutlook Team | Thursday, 06 June 2024, 02:30 IST

SAP, the German software giant, has agreed to buy WalkMe in an all-cash deal worth approximately $1.5 billion. The buying of WalkMe, a digital adoption platform operator that works with organizations to improve productivity and reduce risk, would bolster SAP's business management portfolio, particularly its AI services, according to the firms.

“Applications, processes, data and people are the four key elements of a successful business transformation,” said Christian Klein, CEO and member of the Executive Board of SAP SE. “By acquiring WalkMe, we are 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.”

“We are thrilled to join forces with SAP. This acquisition marks a significant milestone in our journey, providing us with the resources and customer base necessary to enhance our product offerings and expand our market reach,” said Dan Adika, CEO of WalkMe. “By leveraging SAP’s extensive ecosystem, we are poised to unlock substantial growth opportunities and deliver even greater value to our customers. Together, we look forward to a future filled with innovation and exceptional service.”

As per the terms of the agreement, WalkMe will continue to support non-SAP apps. The firms expect the transaction to be completed in the third quarter. The transaction is subject to standard closing conditions, which include regulatory approval.