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SAP snags CallidusCloud for $2.4 billion

SAP snags CallidusCloud for $2.4 billion
From TechCrunch - January 30, 2018

SAP, the German enterprise software giant, announced it acquired CallidusCloud last night for $2.4 billion or $36 per share. Callidus provides configure price quote (CPQ) and sales performance management tools delivered as a cloud service.

The share price is a nice bump for shareholders, representing a 21 percent premium over over the 30-day volume weighted average share price, according to SAP.

The company, which was founded in 1996 and went public in 2003, gives SAP an assortment of sales tools you typically expect from Salesforce, Oracle or Microsoft. The set of products is aimed at managing company sales teams from lead through proposal to contract to commission or payment.

Its interesting to note that the company distributes some of its solutions on the Salesforce AppExchange and has built solutions with Salesforce Lightning, the companys development platform.

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