SAP SE (NYSE: SAP) and WalkMe Ltd. (NASDAQ: WKME) have announced that the companies have entered into a definitive agreement under which SAP will acquire WalkMe, a leader in digital adoption platforms (DAPs). WalkMe’s solutions help organizations navigate constant technology change by providing users with advanced guidance and automation features that enable them to execute workflows seamlessly across any number of applications. This results in higher adoption of the underlying application and as such drives value realization. The Executive and Supervisory Boards of SAP SE and the board of directors of WalkMe have approved the transaction for US$14 per share in an all-cash transaction, representing an equity value of approximately US$1.5 billion.
Latham & Watkins LLP represents WalkMe in the transaction with a corporate deal team led by Bay Area partners Tad Freese and Mark Bekheit, with associates Shannon Cheng, Amy Lutfi, Kennedy Holmes, Lexi Zintel, and David Stepovich. Advice was also provided on antitrust matters by Bay Area partner Josh Holian, Hamburg partner Jana Dammann de Chapto, and Brussels counsel Tomas Nilsson, with associate Hanna Nunez Tse; on benefits and compensation matters by Bay Area partner James Metz, with associates Courtney Thomson and Iryna Onyshchenko; on intellectual property matters by Bay Area partner Anthony Klein, with associates Andrew Abokhair and Tori Hu; on tax matters by Bay Area partner Grace Lee, with associates Gregory Conyers and Dennis Poehland; on government contracts matters by Washington, D.C. partner Dean Baxtresser, with associate Chris Caulder; on data privacy matters by Houston counsel Robert Brown and London counsel Danielle van der Merwe, with associates Sanjana Parikh and Kate Burrell; on CFIUS and exports controls matters by Washington, D.C. partner Les Carnegie and Washington, D.C. counsel Ruchi Gill, with associate Elizabeth Annis; on anti-corruption matters by Washington, D.C. partner Erin Brown Jones; on artificial intelligence (AI) matters by New York partner Jenny Cieplak; and on FCC matters by Washington, D.C. partner Elizabeth Park. Additional advice was provided by Tel Aviv partner Josh Kiernan, with associate Gilad Zohari.
