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SAP to acquire Israel-based WalkMe
1 min Mena Today
German software firm SAP said on Wednesday it will acquire WalkMe, a Saas company headquartered in Tel Aviv.
The acquisition, still subject to customary closing conditions © Mena Today
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.
WalkMe is an Israeli technology company that specializes in digital adoption solutions. Founded in 2011 by Dan Adika, Rafael Sweary, Eyal Cohen, and Yuval Shalom Ozanna, the company aims to simplify the user experience on digital platforms by providing step-by-step guidance, insights, and automation.
Reporting by Paolo Laudani
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