Enterprise Software giant SAP SE is taking some big move this year. The German-based software company has announced that it has acquired US-based Callidus Cloud, a sales management software specialist.
According to TechCrunch, the German enterprise software giant has acquired the Callidus Cloud for $2.4 billion or $36 per share. The newly acquired company Callidus Cloud provides a cloud-based human resource software, configure price quotes (CPQ), sales management tools, marketing, and customer experience solutions, the TechCrunch reported.
|SAP Headquarter, Building WDF01 Image Credit: Wikimedia Creative Commons|
SAP’s latest acquisition is aimed at fierce rival Salesforce.com, which currently dominates the customer relationship management (CRM) and sales management software market. The deal is expected to strengthen SAP’s position in the highly competitive CRM market.
The German company plans to integrate the Callidus Cloud’s technology with its SAP Hybris solutions as part of the software giant’s ongoing effort to beef up its Cloud Business Group. The deal, which is subject to approval by stockholders and regulators, is expected to close in the second quarter of this year.
About Callidus Cloud
Founded in 1996 and based in Pleasanton, California, Callidus Cloud specializes in price quote automation, quota distribution, lead targeting, and sales management software. Callidus’ technology enables companies to monitor, analyze and even enhance marketing and selling tasks.
When integrated with SAP’s portfolio, Callidus Cloud could give SAP an array of sales tools and fill the gap in SAP’s portfolio, which has been primarily focused on back-office management of some of the biggest companies in the tech world. More importantly, it could give the German company a huge presence in the market that they didn’t have before.
Callidus\’ portfolio could possibly integrate with other front office tools that SAP has acquired in the past years. These include the identity management firm Gigya and the e-commerce company Hybris. Callidus has acquired 14 companies in the past years, including the four companies it acquired last year, according to the startup profiling Crunchbase.
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