Business software giant SAP is acquiring “digital adoption” platform provider WalkMe in an all-cash deal worth $1.5 billion.
Yesterday, WalkMe’s closing price on Nasdaq was $9.64, with SAP’s offer of $14 representing a 45% premium.
Founded in 2011, companies use WalkMe software to integrate on-screen product presentations into their software, for example to guide users through new features or to onboard new employees. This could include small bubble overlays, or even on-screen prompts to try to convert free users into paying customers. It’s about automating a process that would otherwise be a resource-intensive endeavor with human assistance alone.
WalkMe had raised around $300 million before its 2021 IPO, but like many companies during the pandemic period, its valuation fell in the years that followed, from a high of $2.8 billion in September 2021 to just over $600 million in one year. The company’s valuation is hovering between $800 million and $900 million this year.
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