SAP (SAP) and WalkMe (WKME) announced that the companies have entered into a definitive agreement under which SAP will acquire WalkMe. The executive and supervisory boards of SAP SE and the board of directors of WalkMe have approved the transaction for $14.00 per share in an all-cash transaction, representing an equity value of approximately $1.5B. The offer price represents a 45% premium to WalkMe’s closing share price on June 4. 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. 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 impact of the transaction on SAP’s non-IFRS earnings per share for fiscal 2024 is expected to be immaterial.
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