In an $8.3 billion deal, SAP is taking over Concur Technologies to strengthen it's cloud position. The deal is reportedly the largest in SAP's history, the Wall Street Journal reported, overtaking SAP's 2010 $7.1 billion acquisition of Sybase.
Assuming the deal gets consummated, SAP would be handling more than $600 billion in transactions each year.
"It also ranks among the 10 largest software deals, according to Dealogic, along with Hewlett-Packard Co.'s $11.7 billion deal for Autonomy Corp. and Oracle Inc.'s $10 billion purchase of PeopleSoft Inc. in 2003," reported the Journal.
The 11-year-old Concur reported of $24.4 million loss on revenue of $546 million for the fiscal year that ended Sept. 30, 2013.