Reginal Thomas
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SAP Buys Concur Technologies for $7.3 Billion

SAP, a business software maker, is acquiring Concur Technologies, an expense management software maker for $7.3 billion. The deal allows SAP is have a bigger presence in the cloud computing market. The deal will boost SAP's cloud users to 50 million. SAP is paying $129 per share to buy Concur, this represents a 20% premium over the closing price for the firm as of September 17.