SAP acquires digital adoption platform WalkMe to boost business transformation
WALLDORF, GERMANY — German software giant SAP has entered into a definitive agreement to acquire WalkMe, a provider of digital adoption platforms (DAPs), for approximately $1.5 billion.
The transaction, approved by both companies’ boards, involves an all-cash payout of $14.00 per share, a 45% premium over WalkMe’s last closing price.
The acquisition aims to enhance SAP’s business transformation capabilities and enrich its artificial intelligence (AI) offerings.
WalkMe, headquartered in Tel Aviv, Israel, enables higher application adoption by providing real-time, contextual support and automation, which drives significant value realization for its users.
Complementing SAP’s transformation portfolio
The acquisition complements SAP’s Business Transformation Management portfolio, which includes solutions like SAP Signavio and SAP LeanIX, designed to assist customers on their transformation journeys.
“Applications, processes, data and people are the four key elements of a successful business transformation,” said Christian Klein, CEO and member of SAP SE’s Executive Board.
“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’re excited to announce that WalkMe has entered into a definitive agreement to join the @SAP family!
This acquisition integrates our digital adoption platform with SAP’s extensive ecosystem and generative AI capabilities, including SAP Copilot Joule. https://t.co/hV9n5bA4yx pic.twitter.com/OtFtBmuHxR— WalkMe (@WalkMeInc) June 5, 2024
Integrating with SAP’s AI offerings
Soon, WalkMe will launch WalkMeX, an AI copilot that will use contextual awareness and AI to suggest the best next step for any workflow, anywhere.
WalkMeX can serve as an overlay to any application, including copilots from different vendors, and will integrate with SAP’s copilot, Joule, enhancing AI assistant and productivity gains for all SAP customers.
Additionally, distinctive e-learning features in the SAP Enable Now solution will form the center of SAP’s people-centric transformation approach going forward.
Dan Adika, CEO of WalkMe, expressed excitement about the purchase, stating, “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.”
“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,” Adika added.
SAP, a global leader in enterprise applications and business AI, has been at the forefront of business and technology for over 50 years. It offers solutions across various critical operations, including finance, HR, supply chain, procurement, and customer experience.
The acquisition is subject to customary closing conditions, including WalkMe shareholder approval and regulatory clearances, and is expected to close in the third quarter of 2024.
