SAP America has entered into an agreement to acquire Concur for approximately $8.3 billion. Concur provides travel and expense (T&E) management software, and has over 23,000 customers, 4,200 employees and 25 million active users in over 150 countries. With Concur, SAP’s business network will transact more than $600 billion annually, says the German software company. SAP will fund the transaction from a credit facility agreement of up to €7 billion to cover the purchase price, target debt refinancing and acquisition-related costs.

[Image courtesy: Concur]

Update: 09-23-14