The maker of esoteric, expensive business software, which no one is sure what it does, SAP is acquiring adoption platform specialist WalkMe.
SAP has agreed to acquire WalkMe for $14 per share in an all-cash transaction, representing an equity value of $1.5bn (£1.18bn).
SAP CEO Christian Klein said: “By acquiring WalkMe, we are doubling down on the support we provide our end users, helping them to swiftly adopt new solutions and features to get the maximum value out of their IT investments.”
“Applications, processes, data, and people are the four key elements of a successful business transformation.”
Tel Aviv, Israel-based WalkMe enables customers to navigate technology changes by providing users with advanced guidance and automation features that allow them to execute workflows seamlessly across any number of applications.
Its digital adoption platform operates on top of an organisation’s application landscape, detects where people encounter friction, and provides the tailored support and automation they need to complete the job in the flow of work across any application.
WalkMe will soon launch WalkMe Copilot, which will use contextual awareness and AI to suggest the best next step for any workflow.
SAP’s natural language generative AI copilot Joule aims to revolutionise how users interact with SAP business systems securely and competently. Joule is currently being embedded into SAP’s entire enterprise portfolio.
The two companies said integrating their adoption capabilities with SAP’s copilot Joule will “boost AI assistant and productivity gains for all SAP customers.”
Integrating distinctive e-learning features in the SAP Enable Now offering with WalkMe will form the core of SAP’s people-centric transformation approach moving forward.
The adoption platform specialist will also complement SAP’s Business Transformation Management portfolio, specifically its SAP Signavio and SAP LeanIX offerings, to assist customers’ IT transformation journeys.
The deal is expected to close during the third quarter of 2024.
WalkMe CEO Dan Adika said: “This acquisition marks a significant milestone in our journey, providing us with the resources and customer base necessary to enhance our product offerings and expand our market reach. By using SAP’s extensive ecosystem, we are poised to unlock substantial growth opportunities and deliver even greater value to our customers.”
