Enterprise software giant SAP bought Concur Technologies in a deal worth a whopping $8.3 billion, SAP said Thursday. The acquisition is expected to close by the end of this year or the first quarter of 2015.
Bellevue, Washington-based [company]Concur[/company] makes travel-and-expense-management software, and it has roughly 4,200 employees and 25 million users in over 150 countries. With Concur in its clutches, [company]SAP[/company] claimed it will now have 50 million cloud users, according to an announcement. As part of the deal, Concur will help SAP develop context-aware mobile applications and SAP will start using Concur’s travel-and-expense management services.
The news confirms the rumors that Concur was on the market and looking for a suitor, with SAP being the leading candidate. Supposedly, Concur turned to [company]Microsoft[/company] and Oracle as possible acquirers but was rebuffed.
Speaking of [company]Oracle[/company], the big acquisition comes hot off the heels of Oracle’s blockbuster announcement that CEO Larry Ellison is stepping down from the helm while Oracle veterans Safra Catz and Mark Hurd take over his position.
Oracle and SAP have been long-time rivals and have engaged in dueling billion-dollar acquisitions in the past, as in Oracle’s $1.9 billion purchase of Taleo in 2012, which came just two months after SAP’s $3.4 billion acquisition of SuccessFactors.