SAP has reportedly secured an agreement to acquire travel booking and expense solutions company Concur as SAP remained the only bidder for the firm.
SAP will buy the company for $8.3 billion after more than two years of planning. Last May, the two companies began formal negotiations for a takeover, SAP said.
Concur reportedly reached out to several other potential bidders, though reports say none placed a takeover bid. One of those companies was said to be Oracle.
After increasing its offer two times, SAP has secured a takeover deal. The company announced last month it received a blessing for the deal from American Express Global Business Travel, which holds a 15 percent stake in Concur. The companies have now filed a merger notice with the Securities and Exchange Commission, say reports.
Full content: Skift
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