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SAP buys 8.3 billion dollars for cloud computing software company concur

Source: Internet
Author: User
Keywords Cloud computing concur
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Beijing time September 19 Morning News, the German software giant SAP Thursday announced that the company will spend 8.3 billion of dollars to buy cloud computing spending management software developer Concur Technologies.

Concure shareholders will receive an offer of $129 a share, a premium of 20% per cent for the stock's closing price of Wednesday 107.80. According to Dealogic, a market-research firm, the deal is the largest in the history of SAP, higher than the 7.1 billion dollar takeover of Sybase in 2010.

In addition, it is one of the biggest 10 deals in the software industry. HP's 11.7 billion-dollar takeover of Autonomy, and Oracle's 10 billion-dollar takeover of PeopleSoft, also topped the list.

Concure can provide software services via the Internet to help manage employees ' travel and expense accounts. Most of the software currently sold by SAP is installed directly into the user's computer system. As a result, the deal is also the latest move for SAP to expand its cloud computing market.

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