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SAP Plans To Divest Profitable Corporate Learning Software Business: Reuters

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  • German software firm SAP SE ADS (NYSE: SAP) is working with investment bank Moelis & Company (NYSE: MC) to divest its corporate learning software business Litmos, Reuters reports.

  • CEO Christian Klein looks to move towards subscription-driven services and increase cloud-based revenue.

  • The report noted the sale of the profitable California-based Litmos could fetch a valuation of more than $1 billion.

  • Moelis aims to start an auction process in the coming weeks and mainly targets tech-focused private equity funds in the U.S. and Europe.

  • SAP looks to streamline its operations and focus on cloud-based revenue.

  • SAP acquired Litmos as part of its acquisition of U.S. cloud software firm Callidus for $2.4 billion in 2018.

  • The business provides learning platforms to corporate clients to develop sales and customer service.

  • The report noted that Litmos overlaps with SAP SuccessFactors, a learning platform in the human experience management suite SAP promotes.

  • Price Action: SAP shares closed lower by 2.35% at $100.00 on Tuesday.

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