SAP SE and WalkMe announced today that they have entered into a final agreement under which SAP will acquire WalkMe for USD 1.5 billion.
The Executive and Supervisory Boards of SAP SE and the board of directors of WalkMe have approved the deal for US $14.00 per share in an all-cash transaction, representing an equity value of approximately US $1.5 billion. The offer price represents a 45% premium to WalkMe’s closing share price on June 4, 2024.
WalkMe’s solutions help organizations navigate constant technology change by providing users with advanced guidance and automation features that enable them to execute workflows seamlessly across any number of applications. This results in higher adoption of the underlying application and as such drives value realization.
“Applications, processes, data and people are the four key elements of a successful business transformation,” said Christian Klein, CEO and member of the Executive Board of SAP SE. “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.”
“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,” said 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.”
Importantly, WalkMe will continue to support non-SAP applications fully.
Soon, WalkMe will launch the WalkMeX copilot, which will use WalkMe’s contextual awareness and AI to suggest the best next step for any workflow, anywhere.
WalkMeX can always be on, serving as an overlay to any application, including copilots from different vendors that companies use in their landscapes. Integrating the strength of WalkMe’s adoption capabilities with SAP’s copilot Joule will boost AI assistant and productivity gains for all SAP customers. Additionally, integrating distinctive e-learning features in the SAP Enable Now solution with WalkMe will form the center of SAP’s people-centric transformation approach going forward.
The acquisition is subject to customary closing conditions, including the receipt of WalkMe shareholder approval and necessary regulatory clearances, and is expected to close in the third quarter of 2024. The transaction’s impact on SAP’s non-IFRS earnings per share for fiscal 2024 is expected to be immaterial.
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