SAP, a major enterprise software company, is set to acquire WalkMe, a provider of digital adoption platforms, in an all-cash deal valued at $1.5 billion.
The closing price of WalkMe on Nasdaq yesterday stood at $9.64, making SAP’s $14 offer a substantial premium of 45%.
Established in 2011, WalkMe offers software that allows companies to integrate interactive product walkthroughs directly into their software interfaces. This functionality helps guide users through new features and facilitates the onboarding process for new employees. The platform utilizes various tools like balloon overlays and on-screen prompts to streamline processes that would otherwise require significant human resources.
Before its planned IPO in 2021, WalkMe had secured approximately $300 million in funding. However, like many businesses during the pandemic, its valuation experienced fluctuations, dropping from a peak of $2.8 billion in September 2021 to just over $600 million within a year. Throughout this year, the company’s valuation has remained around the $800-$900 million range.
This development is ongoing, and updates will be provided as the story unfolds.
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