SAP SE is in talks to acquire German enterprise software company Signavio as it seeks to expand its cloud offering, people with knowledge said.
According to the people, who asked not to be identified because the information is private, an agreement could be announced for the purchase of Signabio in Berlin. A deal could cost Signabio, whose supporters include Apax Partners, at about a billion euros ($ 1.2 billion), the people said.
The SAP share rose 0.6% at 16:44 in Frankfurt, giving the company a market capitalization of about 129 billion euros. Negotiations are ongoing, and discussions can still take longer or fall apart, the people said.
Representatives of SAP and Apax declined to comment, while a Signabio spokesman did not immediately respond to a request for comment.
The potential deal will add up to $ 10.5 billion in acquisitions SAP has announced in the past three years, according to Bloomberg data. CEO Christian Klein asks Hang out with the company that saw hers Sales plummeted during the plague. He is pushing for wider adoption of a new package Cloud-based products so that SAP can better compete with rivals like Salesforce.com Ltd.
Signavio manufactures online business process management software, which companies use to track work processes in their day-to-day operations. Apax Digital, the growth capital arm of Apax Partners and venture capital firm DTCP, invested $ 177 million in Signabio. Funding round in 2019.
Signabio’s clients include Deloitte, Liberty’s mutual insurance, NBCUniversal and SAP, according to a press release at the time. All the founders of Signavio Worked at SAP at one point, and the session is a business partner of SAP as the software platforms of the two companies can be connected to work together.
SAP is in the process of returning another acquired company to the public markets. Qualtrics International Inc. Unit Its, which produces customer survey software, on Monday Raised the price range for a planned initial public offering in the U.S. that could raise up to $ 1.46 billion.
– With the help of Miriam Belju
(Updates with the Qualtrics list in the last paragraph)