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WalkMe Ltd. (NASDAQ:WKME) shares are jumping today after it inked a definitive deal to be acquired by SAP SE (NYSE:SAP) in an all-cash deal for an equity value of about $1.5 billion.
The Executive and Supervisory Boards of SAP and the Board of Directors of WalkMe have approved the transaction valued at $14.00 per share, representing a 45% premium to WalkMe’s closing share price on June 4, 2024.
Christian Klein, CEO and member of the Executive Board of SAP SE, said, “By acquiring WalkMe, we are doubling down on the support we provide our end users, helping them to quickly adopt new solutions and features to get the maximum value out of their IT investments.”
The proposed combination enhances SAP’s Business Transformation Management portfolio by integrating SAP Signavio and SAP LeanIX solutions, aiding customers in their transformation efforts.
The acquisition, which is contingent upon standard closing conditions, is expected to be finalized in the third quarter of 2024.
The transaction is expected to have a negligible impact on SAP’s non-IFRS earnings per share for fiscal 2024.
Dan Adika, CEO of WalkMe, commented, “We are thrilled to join forces with SAP. This acquisition marks a significant milestone in our journey, providing us with the resources and customer base necessary to enhance our product offerings and expand our market reach.”
SAP’s free cash flow in the first quarter increased by 28% to €2.49 billion.
Investors can gain exposure to WKME via ARK Israel Innovative Technology ETF (BATS:IZRL).
Price Action: WKME shares are up 41.6% at $13.65 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by VideoFlow via Shutterstock
