SAP to buy Ariba for $4.3bn
News23.05.2012 Comments (0)
German enterprise software maker SAP AG said it will acquire cloud-based business commerce network Ariba for about $4.3bn in a deal that will significantly expand SAP's cloud offerings.
The deal is expected to close in the third quarter. Ariba's board has unanimously approved the deal.
SAP said the acquisition of Ariba will create new models for business-to-business collaboration in the cloud and positions SAP in a fast-growing segment as demand for cloud-based services increases.
Ariba, which uses technology with a web-based trading community to help companies collaborate with a global network of partners in a cloud-based environment, had $444m in total revenue in 2011. SAP said it plans to consolidate all cloud-realted supplier assets of SAP under Ariba.
"The addition of Ariba will create the business network of the future, deliver immediate value to our customers and provide another solid engine for driving SAP's growth in the cloud," said SAP co-chief executives Bill McDermott and Jim Hagemann Snabe.
SAP has been on an acquisition streak of late, agreeing to acquire online software provider SuccessFactors Inc. late last year for $3.4bn and mobile-application maker Syclo for an undisclosed amount last month.