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SAP agrees to buy expense software maker Concur for $7.3 billion


    FRANKFURT (Reuters) - German business software maker SAP said on Thursday it has agreed to acquire U.S.-based expense management software maker Concur Technologies Inc in all-share deal valued at $7.3 billion.

    SAP (SAP.XE)said in a statement it would offer $129 per share, a 20 percent premium over the Sept. 17 closing price.

    Based on 57 million outstanding shares, the offer for Bellevue, Washington-based Concur is valued at $7.3 billion. Including debt, the offer represents an enterprise value of about $8.3 billion, SAP said.

    The Concur board of directors has unanimously approved the transaction, which is expected to close in the fourth quarter of 2014 or the first quarter 2015, subject to shareholder and regulatory approvals, SAP said.

    (Reporting by Harro ten Wolde; Editing by David Gregorio)