SAP AG (SAP) has completed its acquisition of Ariba Inc. (ARBA), with all outstanding shares of Ariba being converted into the right to receive $45.00 per share cash, without interest and less any applicable withholding of taxes. Ariba has notified The Nasdaq Stock Market of the completion of the transaction and expects trading of its stock to be suspended pending delisting of such shares.
SAP, through this acquisition, would 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. In addition, SAP intends to enable its over 195,000 customers to easily connect to the Ariba business network through pre-built integration points. Also, SAP plans to provide open access to the business network, extending the benefits of business collaboration to any company, on any system, from any provider.
Further, the company said it would consolidate all cloud-related supplier assets of SAP under Ariba, which would operate as an independent business under the name "Ariba, an SAP company." Ariba CEO, Bob Calderoni, would be named to the SAP Global Managing Board subject to the consent of the SAP Supervisory Board.
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