SAP has announced it is acquiring leading digital adoption platform (DAP) leader, WalkMe.
The Executive and Supervisory Boards of SAP and the Board of Directors of WalkMe approved a transaction in which SAP will acquire WalkMe for $14.00 per share in an all-cash deal. This transaction values WalkMe at approximately $1.5 billion and represents a 45 percent premium over WalkMe's closing share price on June 4, 2024.
The acquisition's ambition is to enhance SAP's Business Transformation Management portfolio, particularly its SAP Signavio and SAP LeanIX solutions, and thus support customers in their transformation journeys.
Christian Klein, CEO and member of the Executive Board of SAP SE, said:
Applications, processes, data and people are the four key elements of a successful business transformation. 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."
WalkMe’s solutions assist organisations in managing continuous technological changes by offering advanced guidance and automation features. These capabilities enable users to execute workflows seamlessly across various applications, leading to higher adoption rates of the underlying software and, consequently, driving greater value realisation.
“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,” added Dan Adika, CEO of WalkMe. “By leveraging SAP’s extensive ecosystem, we are poised to unlock substantial growth opportunities and deliver even greater value to our customers. Together, we look forward to a future filled with innovation and exceptional service.”
The deal still needs to meet standard requirements, such as approval from WalkMe’s shareholders and regulatory bodies and is expected to be completed by the third quarter of 2024. SAP does not expect this acquisition to significantly affect its 2024 earnings.
More Details On How WalkMe's Portfolio Will Bolster SAP
WalkMe helps organisations increase productivity and reduce risk by ensuring that software and workflows are used consistently and effectively. Its DAP works with an organisation's existing applications, identifying where users struggle and providing the necessary support and automation to help them complete their tasks efficiently across any application. Importantly, WalkMe will continue to support non-SAP applications.