Germany's SAP Buys SuccessFactors for $3.4B

Germany's SAP will pay $3.4 billion in cash to buy Web-based software company SuccessFactors, in a deal that helps the company compete in the realm of cloud computing, Reuters reported. SAP is paying $40 per share for SuccessFactors, a premium of 52% over both its Friday closing price and the one-month volume-weighted average price, Reuters wrote. SuccessFactors went public four years ago, and makes makes human resources software.

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