SAP has announced its intent to acquire WalkMe, a workflow automation platform, for a sum of USD 1.5 billion (a 45% premium over the company's stock price). The company expects to close the deal in Q3 2024 after it has been subject to regulatory and shareholder approval.

Based in Israel, WalkMe offers an AI-driven no-code digital adoption platform that can be integrated as an additional layer to websites to enable enterprises to automate workflows. WalkMe facilitates automations through a range of integrations with software and apps providing cloud storage, CRM, data, and communication services, among others. The platform also helps users maximize their technological systems, enhancing the user experience and analytics by providing insights to management.

Following the acquisition, SAP plans to leverage WalkMe's technology, such as its in-app support automation tool, to complement its enterprise business transformation suite. The company also intends to integrate Walkme’s recently unveiled GenAI co-pilot named WalkmeX, which generates workflow automation suggestions, with its own copilot, “Joule.”

SAP has been investing heavily in the space since it acquired Signavio for a similarly large amount of USD 1.2 billion in 2021. Moreover, it offers its own no-code process automation suite named “SAP Build Process Automation," which features a range of pre-built workflows, bots (attended and unattended), and connectors for automating tasks across multiple business functions.