SAP has agreed to acquire Concur, a provider of travel and expense (T&E) management software, for $8.3 billion.
The Concur board of directors has unanimously approved the transaction, which is expected to close in the fourth quarter 2014 or the first quarter 2015.
“The acquisition of Concur is consistent with our relentless focus on the business network,” said Bill McDermott, CEO of SAP, in a statement released by the company. “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.”
McDermott added, “Concur cloud solutions are network-based and enable context-aware applications for travelers to use on any mobile device. With Concur, people are given the professional courtesy and ultimate flexibility to make the choices that are right for them. No longer does cost control for companies have to come at the expense of people.”
“We have always been focused on making solutions for real customer problems, and with SAP we have a great opportunity to advance that mission,” added Steve Singh, CEO of Concur. “We are constantly seeking innovative ways to deliver the best customer experience and we’re excited about leveraging SAP technology, including SAP HANA as we scale globally.”
More information is available at www.news-sap.com/sap-acquire-concur/#sthash.bYQZh7hD.dpuf