SAP agreed to acquire SuccessFactors, a provider of cloud-based human capital management (HCM) solutions, for $40.00 per share in cash, representing an enterprise value of approximately $3.4 billion.
SuccessFactors has over 3,500 enterprises using its cloud-based Business Execution solution to perform organizational tasks such as employee reviews, compensation management, employee performance measurement, etc. The company is based in San Mateo, California.
“The cloud is a core of SAP’s future growth, and the combination of SuccessFactors’ leadership team and technology with SAP will create a cloud powerhouse. The acquisition will help us address the top priority for CEOs globally – managing people and talent,” said Bill McDermott, Co-CEO, SAP. http://www.successfactors.com/http://www.sap.com
