German software firm SAP (SAPG.DE) said on Wednesday it will acquire WalkMe (WKME.O), a Saas company headquartered in Tel Aviv.
Shares in the latter were up 42 per cent in premarket indications to $13.7 at 0904 GMT, while SAP’s were broadly flat.
Both companies’ boards have approved the transaction for $14 per share, a premium of 45 per cent on WalkMe’s last closing price, they said in a joint statement.
The acquisition, still subject to customary closing conditions, amounts to a total value of around $1.5 billion and is expected to close in this year’s third quarter.
