SAP makes successful bid for SuccessFactors
Software company SAP has agreed to buy SuccessFactors.
Business negotiations saw technology group SAP strike a deal to acquire SuccessFactors, it was announced at the weekend.
The application and cloud computing firm successfully bid to buy up all outstanding shares of common stock at a rate of $40 (£25.57) each.
Co-chief executive officer (CEO) at SAP Bill McDermott said: "The acquisition will help us address the top priority for CEOs globally - managing people and talent."
By entering into a definitive merger agreement with SuccessFactors, the company's US arm SAP America has acquired the technology and team behind successful cloud-based human capital management solutions.
Meanwhile, founder and chief executive officer of SuccessFactors Lars Dalgaard noted his software could become available to SAP's 176,000-strong customer base.
The worth of the acquisition is around $3.4 billion and the per share price agreement is 52 per cent higher than the December 2nd closing value.
In other technology takeover news, Microsoft was recently expected to complete its purchase of Skype, a Financial Times report stated.
Posted by Ron Maverick
Source: SAP statement, December 3rd