TechTaffy

tech:

taffy

SAP America To Acquire Ariba For $4.3 Billion

By TechTaffy Desk

[Techtaffy Newsdesk]

SAP subsidiary, SAP America, has entered into an agreement to acquire Ariba, a cloud-based business commerce network, for $45.00 per share, representing an enterprise value of approximately $4.3 billion. The Ariba board of directors has unanimously approved the transaction.

The per share purchase price represents a 20 per cent premium over the May 21 closing price and a 19 per cent premium over the one month volume weighted average price per share.  The transaction will be funded from SAP’s free cash and a €2.4 billion term loan facility.  The transaction is expected to close in the third quarter of calendar year 2012, subject to Ariba stockholder approval, clearances by relevant regulatory authorities and other customary closing conditions.  The transaction is expected to be accretive to SAP’s non-IFRS earnings per share in 2013.

Headquartered in Sunnyvale, California, Ariba has approximately 2,600 employees.  With $444 million in total revenue, Ariba experienced 38.5 per cent annual growth in 2011.  Its business network recorded 62 per cent organic growth in the same period.

[Image Courtesy: SAP]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.