Posted 09/19/2014 at 10:12 AM
Posted 3 years ago
SAP, the German software giant, has spent $7.3 billion acquiring Concur.
It was an all-stock deal, which means they paid $129 per share. That’s a 20 percent premium over the stock value on September 17th, but below the all-time high of $130.36 from January this year.
It’s a smart move, given that cloud computing – using networks and remote data centers instead of servers – has grown by 20 percent. Plus, those growth figures are estimated to accelerate as more and more businesses and software companies turn to the cloud for storage and business solutions.
The acquisition was funded by a credit facility agreement of up to 7 million euros.