SAP to acquire Israel-based WalkMe

Germany's software firm SAP said on Wednesday it will acquire WalkMe, a Saas company headquartered in Tel Aviv.

Both companies' boards have approved the transaction for $14 per share, a premium of 45% on WalkMe's last closing price, they said in a joint statement.

The acquisition, still subject to customary closing conditions, amounts to a total value of around $1.5 billion and is expected to close in this year's third quarter.