SAP today announced that it has completed its acquisition of Bellevue-based travel and entertainment expense management software company Concur Technologies. Now that the deal is official, Concur is a wholly-owned subsidiary of SAP. The $8.3 billion deal was first announced in September.
“Joining SAP represents the next inflection point in Concur’s journey, a pivot that will enable us to deliver greater value to organizations around the world,” CEO Steve Singh said in a blog post. “It’s an opportunity to enable a new era of effortless cloud business services.”
Founded in 1993, Concur employs 4,200 people worldwide, has 23,000 customers, and boasts a revenue run rate of some $700 million.
Related: Concur president Raj Singh on going from $8 million to $8 billion through a ‘series of pivots’ … How Concur nearly landed in Austin, and why co-founder Raj Singh is so glad they picked Seattle