SAP to acquire Israel-based WalkMe
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A logo on the SAP exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. REUTERS/Benoit Tessier/File Photo
(Reuters) - German software firm SAP said on Wednesday it will acquire WalkMe, a Saas company headquartered in Tel Aviv.
Shares in the latter were up 42% in premarket indications to $13.7 at 0904 GMT, while SAP's were broadly flat.
Both companies' boards have approved the transaction for $14 per share, a premium of 45% on WalkMe's last closing price, they said in a joint statement.
The acquisition, still subject to customary closing conditions, amounts to a total value of around $1.5 billion and is expected to close in this year's third quarter.
(Reporting by Paolo Laudani; Editing by Madeline Chambers)
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