U.S. Markets closed

SAP acquiring Callidus Software for $2.4 billion to boost cloud-based products

Michelle Caffrey
American City Business Journals

German tech giant SAP announced a major, $2.4 billion acquisition on Wednesday, one that executives say will help the company ramp up its cloud-based offerings amid the overall industry shift to the cloud. SAP (SAP), which has its North American headquarters in Newtown Square, said it's acquiring California-based Callidus Software (CALD) so it can connect "the back office to the front office in this consumer-driven growth revolution," SAP CEO Bill McDermott said in a statement. Callidus' software, the CallidusCloud, is a suite of sales and marketing applications with focuses included sales performance management, sales analytics, price quote configurations and customer engagement.