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Concur Technologies, Inc. (CNQR)

CNQR is defunct.
  • Sep. 18, 2014, 5:24 PM
    • SAP is paying $129/share, or an enterprise value of $8.3B, to acquire top cloud travel/expense management software vendor Concur Technologies (NASDAQ:CNQR). The price represents a 20% premium to Concur's Thursday close.
    • The deal is expected to close in Q4 2014 or Q1 2015, and will be financed using a €7B credit facility. SAP notes Concur claims 23K+ customers and 25M+ active users.
    • The purchase is the latest in a string of major cloud software acquisitions by SAP, which is counting on cloud growth to offset slumping traditional license sales. Other major cloud-related purchases include SuccessFactors, Ariba, and hybris.
    • Previous: Concur reportedly approached SAP, Oracle about acquisition
  • Sep. 18, 2014, 5:00 PM
    • Bloomberg reported on Sep. 2 Concur (NASDAQ:CNQR) had approached SAP and Oracle to gauge their interest in an acquisition.
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  • Sep. 2, 2014, 5:28 PM
    • Concur (NASDAQ:CNQR) approached SAP and Oracle (NYSE:ORCL) to "gauge their interest" in an acquisition, sources tell Bloomberg. Oracle, set to buy point-of-sale hardware vendor Micros for $5.3B, is said to have passed.
    • No details are given on SAP's reaction. Back in January, the German software giant suggested it could make another big cloud software acquisition - it already has a few under its belt. But in April, SAP, which is counting on cloud growth to offset slumping traditional license sales, stated it considers itself under no pressure to make a deal.
    • Concur has pared its AH gains: The cloud travel/expense software provider is now up 11%. Its market cap stands at $6.4B.
    • Earlier: Concur reportedly exploring sale
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  • Sep. 2, 2014, 4:11 PM
    • Bloomberg reports Concur Technologies (NASDAQ:CNQR) is exploring a sale. Shares of the cloud travel/expense management software firm have jumped in response.
    • The cloud software space has seen considerable M&A activity. However, Concur is larger than most recent M&A targets - it closed today with a $5.8B market cap, and is valued at $6.8B AH.
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Company Description
Concur Technologies Inc is a provider of integratedtravel and expense management solutions for companies of all industries and sizes. Its solutions include automated and user-interactive mobile and desktop applications.