It’s official: SAP closes $8.3 billion deal for Concur
Software giant SAP’s $8.3 billion deal to purchase travel and expense platform Concur has closed, marking an official end to Concur’s independent past and setting the tone for a combined future.
All currently outstanding shares of Concur have now been converted to $129 per share in cash, with the shares soon to be delisted from NASDAQ.
In the announcement following the release, SAP is focusing on how the Concur acquisition fits its self-billed positioning as “the world’s largest business network.” Concur sits alongside Ariba and Fieldglass in the recently-acquired portfolio, which aims to deliver a holistic cloud-based product suite for SAP’s customer base.
SAP CEO Bill McDermott places Concur in the march towards the consumerization of all things enterprise: