Concur to Be Acquired by SAP for $8.3 Billion
Photo Credit: Concur CEO Steve Singh shakes hands with SAP CEO Bill McDermott. Concur
Skift Take
This is the biggest M&A deal to occur within the travel industry in the past few years and will have a ripple effect throughout the sector.
The biggest deal in all of travel in the last few years has just happened: Enterprise business software corporation SAP is acquiring business travel technology firm Concur for a total of $8.3 billion.
Concur CEO Steve Singh announced the acquisition via the company’s blog this evening.
"This relationship will bring new resources and expertise to Concur customers," writes Singh. "This also expands the opportunity to attract developers and partners to the Concur platform, enabling us to continue to extend the capabilities available to you and your business."
>> Related: Read the Skift Interview with Concur CEO Steve Singh, Interview: Concur CEO on Making Sense of Business Travel Chaos
Concur expects to receive regulatory approval for the acquisition in later 2014 or early 2015, according to the blog post. Concur is currently expected to operate as part of the SAP organization with leadership reporting to CEO Bill McDermott.
Rumors of the sale were reported by Blo
