The German software giant SAP has made its first acquisition of 2021, Signavio, a German enterprise software company. The price of the acquisition wasn’t formally disclosed, but a Bloomberg report pegged it at up to 1 billion euros ($1.2 billion).

Signavio makes process management software for companies to keep track of their daily workflows. It’s a decade-old company, backed by $230 million in venture funding. Its backers include DTCP, Apax Digital, and Summit Partners.

Signavio is the first acquisition by SAP this year and a big one given its reported price of $1.2 billion. It’s acquisition comes just as SAP is spinning off one of its biggest acquisitions, Qualtrics, into a separate publicly-traded company. SAP paid $8 billion for Qualtrics in 2019 and has seen fit to take it public two years later. Notably, Qualtrics was already on its way to a public offering before SAP acquired it.

SAP’s Signavio purchase is expected to be completed in the first quarter of 2021.

Photo: SAP CEO Christian Klein, credit: World Economic Forum, licensed under CC BY-NC-SA 2.0

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print