SAP to buy Concur for $8.3 billion
Enterprise software giant SAP will spend $8.3 billion to get its hands on corporate travel-and-expense (T&E) management tech company Concur.
The deal values Bellevue, Washington-based Concur at $129 a share — a premium of 20% above its September 17 closing price.
SAP CEO, Bill McDermott, says:
"We are making a bold move to innovate the future of business within and between companies. With Ariba, Fieldglass and Concur, SAP is the undisputed business network company."