SAP to acquire Israel-based WalkMe

By Thomson Reuters Jun 5, 2024 | 4:41 AM

(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)