SAP Acquires SuccessFactors for $3.4 bn
SAP America, a subsidiary of SAP, has announced to acquire Successfactors, an American company providing cloud based human capital management (HCM) solutions for $3.4 bn. The company’s subsidiary would offer to acquire all outstanding shares of common stock of Successfactors for $40.00/ share in cash, an enterprise value of about $3.4 bn. SAP has said that the Successfactor’s board of directors have approved of the transaction which will be funded from SAP’S cash on hand and a 1 bn term loan facility. The transaction is expected to close in the first quarter of 2012.