SAP Completes Acquisition Of Ariba, Inc.
WALLDORF, Germany and SUNNYVALE, Calif., Oct. 1, 2012 /PRNewswire/ -- SAP AG (NYSE: SAP) today announced that it has completed its acquisition of Ariba, Inc. (NASDAQ: ARBA). All outstanding shares of Ariba (other than shares held by stockholders that have properly and validly perfected their appraisal rights under Delaware law) were converted into the right to receive $45.00 per share in cash, without interest and less any applicable withholding of taxes. Ariba has notified The Nasdaq Stock Market of the completion of the acquisition and expects trading of its common stock to be suspended pending delisting of such shares.
Driving New Models of Business-to-Business Collaboration
Through the acquisition, SAP will deliver an industry-leading end-to-end cloud procurement solution and become the leader in the fast-growing segment of inter-enterprise cloud-based business networks. SAP plans to enable its more than 195,000 customers to easily connect to the Ariba business network through pre-built integration points — no matter what size or industry, and no matter whether on premise or on demand. SAP also plans to provide open access to the business network, extending the benefits of business collaboration to any company, on any system, from any provider."SAP and Ariba form a powerful combination, perfectly positioned to enable our customers to collaborate more efficiently with their global network of customers and partners," said SAP Co-CEOs Bill McDermott and Jim Hagemann Snabe. "We share a common passion for customer-driven innovation and putting our customers at the center of everything we do. Together, we will create the premier business network to connect businesses and their systems to those of their trading partners and enable new processes only possible in a digital environment." Enabling the Networked Enterprise Business networks are significantly more powerful than any single entity. The combination of the network and procurement solutions from Ariba and SAP will provide companies with 360-degree insights into their spending. By combining its business process expertise with Ariba's business network, SAP enables the "Networked Enterprise," empowering business to:
- Connect to customers, suppliers and partners to facilitate collaborative commerce processes like sales, procurement and finance
- Gain efficiency through cloud-based applications that automate and enable shared processes like sourcing, invoicing and payment
- Become more informed through community intelligence, market insights, benchmarking and best practices for better performance and decisions
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