SAP has made another massive acquisition. This time it snapped up cloud-based ecommerce company Ariba.SAP paid $45 a share in a deal valued at $4.3 billion
Ariba is headquartered in Sunnyvale, and has approximately 2,600 employees.
SAP is dead serious about turning itself from an old-school enterprise software company into a cloud company. It has struggled to come up with a successful cloud strategy for years.
This acquisition follows its $3.4 billion buy of cloud company SuccessFactors.
Ariba is a network that helps companies make purchases and collaborate with their suppliers. With $444 million in total revenue, Ariba experienced 38.5 per cent annual growth in 2011, SAP says.