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Today, SAP announced it has signed a definitive agreement to acquire WalkMe, an Israeli multinational company providing enterprises with a digital adoption platform or DAP.
Under the terms of the agreement, the all-cash deal will see SAP paying $1.5 billion at $14 per share to WalkMe, marking a 45% premium on the company’s June 4 closing price of $9.64. The move will enable SAP to bolster its Business Transformation Management suite and accelerate the adoption of digital solutions for customers — this will attempt to boost their productivity and ROI.
“Applications, processes, data and people are the four key elements of a successful business transformation. 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,” Christian Klein, CEO of SAP, said in a press release.
This comes as the third major acquisition from SAP to accelerate business transformation efforts after Signavio and LeanIX.
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What does WalkMe bring to SAP?
Founded in 2011, WalkMe started as a solution providing real-time, on-screen guidance to simplify website navigation. Over the years, and after multiple acquisitions, the company transformed into the provider of a full-fledged “digital adoption platform” that enables enterprises to navigate constant technology change with personalized guidance to users, workflow automations and AI-powered insights.
Essentially, the DAP sits on top of all the applications an organization has in its tech stack and overlays personalized guidance, nudges and automations to help users make the most of these services. This can be anything from helping them navigate an app to addressing friction points like sign-up errors.
For users, everything happens right in the flow of work. Admins, meanwhile, get AI-powered insights into the interaction across all the services, including details on where users are facing problems. This enables them to power downstream workflow automations and guidance, thereby accelerating digital transformations and better realizing the value of their software investments. Last month, the company also expanded its offering with WalkMeX, an always-on copilot that provides users with the best next steps for any workflow, in any app, using the contextual data and intelligence the platform has.
While WalkMe has been working with SAP for quite some time, with its DAP powering SAP SuccessFactors HCM workflows, the acquisition will see the German giant using the technology as an add-on to its Business Transformation Management portfolio, aimed at helping organizations navigate and succeed in their digital transformation journeys.
Previously, the company acquired two other tech vendors to accelerate enterprise modernization efforts. One was Signavio, a business process automation platform, and the other was LeanIX, which uses a data-driven and automated approach to visualize enterprise software architecture and flag any applications that may become obsolete and threaten the business. WalkMe is expected to complement these offerings.
In addition, the technology from the company is also expected to power other SAP applications, including S/4 HANA ERP business suite. Dan Adika, CEO of WalkMe, even shared a demo video showcasing how the offering could power S/4 HANA and provide users nudges to perform different jobs on the application, like creating an invoice order. The WalkMeX copilot will also make its way to SAP through an integration with the company’s Joule gen AI assistant.
The deal remains subject to customary closing conditions, including approval from WalkMe’s existing shareholders, and is expected to be closed by the third quarter of 2024.
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