Friday, September 19, 2014

Concur Acquired By SAP For $8.3 Billion

Seattle-based travel and expense management software developer Concur has agreed to be acquired by SAP, the two announced late Thursday, in a deal worth approximately $8.3 billion. According to the companies, SAP will pay $129 per share for Concur, a 20 percent premium over its September 17th closing price. SAP said the buy will help extend its reach into the $1.2 trillion US corporate travel market. SAP said that Concur has a more than $700 million run rate.