News

A&O Shearman advises SAP in relation to the financing of the proposed acquisition of WalkMe

Published Date
Jun 19, 2024
A&O Shearman has advised SAP SE in the context of the proposed acquisition of WalkMe Ltd. (NASDAQ: WKME), a leader in digital adoption platforms (DAP), on the conclusion of deal contingent forwards to hedge currency risks in relation to the purchase price payment.

The executive and supervisory boards of SAP SE and the board of directors of WalkMe have approved the transaction for USD 14.00 per share, representing an equity value of approximately USD 1.5 billion. The transaction is to be effected in cash. The offer price represents a 45% premium on WalkMe’s closing share price on June 4, 2024. 

The proposed combination complements SAP’s Business Transformation Management portfolio around the SAP Signavio and SAP LeanlX solutions to help customers in their transformation journeys.

The acquisition is subject to customary closing conditions, including WalkMe shareholder approval and necessary regulatory clearances, and is expected to close in the third quarter of 2024.

The A&O Shearman team included partner Martin Scharnke, counsel Christian Klöpfer and associate Tilman Jacob (all Capital Markets, Frankfurt).

In-house at SAP SE, Anette Kirnberger, Corporate and Capital Market Law, and Julian Klose, Global Legal M&A, (both Walldorf) advised on the financial and capital market law aspects of the transaction.

For more information please contact: Ayfer Ekingen, Frankfurt am Main, Tel: +49 69 2648 5840 (ayfer.ekingen@aoshearman.com).