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SAP agrees to buy Concur Technologies for $7.3 billion

19/09/2014 by

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German business software maker SAP said on Thursday it has agreed to acquire US-based travel and expense management service Concur Technologies in a cash deal valued at $7.3 billion.

SAP said in a statement it would offer $129 per share, a 20 per cent premium over the September 17th closing price.

Based on 57 million outstanding shares, the offer for Bellevue, Washington-based Concur is valued at $7.3 billion. Including debt, the offer represents an enterprise value of about $8.3 billion, SAP said.

The Concur board of directors has unanimously approved the transaction, which is expected to close in the fourth quarter of 2014 or the first quarter 2015, subject to shareholder and regulatory approvals, SAP said.
SAP is the largest software company in Europe and the third largest in the world.

It opened its first facility in Ireland in 1997 and currently employs about 1,200 people here.

This article has been extracted from http://www.irishtimes.com/, please click on this link to read the article in full http://www.irishtimes.com/business/sectors/technology/sap-agrees-to-buy-concur-technologies-for-7-3-billion-1.1934892

Montash is a multi-award winning, global technology recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

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