"The acquisition of Callidus will boost SAP’s position in the CRM market.
SAP has agreed to acquire sales performance software vendor Callidus Software in a $2.4bn cash deal.
The acquisition of Callidus Software, which trades as CallidusCloud, will help SAP to complete and differentiate its portfolio of products.
‘These two strong companies will be better together, help the world run better and improve people’s lives’ – BILL MCDERMOTT
The German IT giant intends to integrate CallidusCloud’s Lead to Money suite into its customer engagement CRM suite.
SAP will purchase Callidus for $36 per share, a 21pc premium on the company’s average price per share over a 90-day period.
SAP has elected to fund the transaction with existing cash balances and an acquisition term loan."
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