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SAP to Acquire Concur Technologies
- Client News
- September 18, 2014
As reported in The Wall Street Journal and other media outlets, Paul, Weiss client SAP SE announced that subsidiary SAP America, Inc. has entered into an agreement to acquire Concur Technologies, a leading provider of travel and expense management software, for a purchase price of $8.3 billion. With the addition of Concur, SAP's business network will transact more than $600 billion annually, deliver frictionless commerce across more than 25 different industries and address annual corporate travel spending of $1.2 trillion worldwide.
The transaction is expected to close in the fourth quarter of 2014 or the first quarter of 2015 and is subject to Concur stockholder approval, clearances by the relevant regulatory authorities and other customary closing conditions.
The Paul, Weiss team included, among others, corporate partners Toby Myerson and Steven Williams and counsel Edward So; and litigation partner David Ball.