January 30, 2018

SAP acquires CallidusCloud for USD 2.4B

The acquisition seeks to strengthen SAP’s cloud offerings in the CRM market.

Share this articleShare on Facebook
Facebook
Share on Google+
Google+
Tweet about this on Twitter
Twitter
Tech giants

Enterprise software giant SAP has acquired cloud service company CallidusCloud in a USD 2.4 billion part-cash part-debt deal. With this acquisition, SAP will be able to fortify their cloud-based solutions for the CRM (Customer Relationship Management) segment.

SAP say that they have been partners with CallidusCloud on the sales front for several years and that their plan to acquire Callidus came about after realizing the need to boost cloud offerings for CRM customers. They further added that with this acquisition, SAP will not only consolidate their own portfolio of services but also provide unique offerings to CallidusCloud’s 5800 business clients.

Delighted with the acquisition deal, Leslie Stretch, CEO at CallidusCloud commented:

We are super excited to join forces with SAP. This move gives customers precisely what they want, the market leading Sales Performance (SPM), Sales Execution (CPQ) and Sales Enablement clouds combined with SAP Hybris and S/4HANA. This is true Lead to Money, beyond CRM and beyond Quote-to-Cash. It’s the joined-up Front Office and Back Office Cloud everyone needs for 21st Century Business.

SAP say that the acquisition deal is expected to close by the second quarter of 2018, subject to regulatory and stock-related approvals by CallidusCloud.

Share this articleShare on Facebook
Facebook
Share on Google+
Google+
Tweet about this on Twitter
Twitter