SAP has entered into an agreement to acquire CallidusCloud, a company that provides cloud-based lead to money (Quote-to-Cash) solutions. The transaction, with a $2.4 billion sticker price, is expected to close in the second quarter of 2018, subject to customary conditions.
Upon completion of the transaction, SAP says it expects to consolidate all CallidusCloud product assets within the company’s Hybris solutions as part of its Cloud Business Group. The existing management team will continue to lead CallidusCloud, says SAP.
CallidusCloud offers a suite of SPM and CPQ solutions, including sales enablement, sales analytics and customer engagement.
“SAP is connecting the back office to the front office in this consumer-driven growth revolution,” said Bill McDermott, CEO of SAP. “Our customers are focused on reinventing sales, service, marketing, and commerce. The addition of CallidusCloud aligns perfectly to SAP’s innovation strategy to transform the front office.”
[Image courtesy: SAP]