Highlights:

  • The WalkMe SaaS platform is intended for two primary use cases: assisting businesses in reducing their software expenditure and improving the usability of their customer-facing applications.
  • In the most recent quarter, WalkMe brought in USD 68.6 million in sales, a six percent increase over the same period the previous year.

SAP acquired WalkME Ltd., a SaaS platform developer in a deal worth USD 1.5 billion. WalkME’s SaaS solutions make enterprise applications seamless to use.

The firms recently made the arrangement public. WalkMe, based in Tel Aviv, is valued at USD 14 per share in SAP’s USD 1.5 billion offer, which is 45% more than its closing price on Wednesday.

SAP Chief Executive Officer, Christian Klein, said, “By acquiring WalkMe, we are doubling down on the support we provide our end users, helping them to quickly adopt new solutions and features to get the maximum value out of their IT investments.”

After its 2011 launch, WalkMe raised USD 307 million from investors over the subsequent decade. The business raised roughly USD 287 million for its first public offering in 2021 when it listed its shares on the Nasdaq. The WalkMe SaaS platform is intended for two primary use cases: assisting businesses in reducing their software expenditure and improving the usability of their customer-facing applications.

The WalkMe platform can gather usage statistics for every application and automatically map out the software items that employees of an organization use. Among other metrics, this data contains the number of workers who use an application on a regular basis. A business can determine whether it purchased more software licenses than necessary by using the data from WalkMe, and it can then modify its procurement approach.

Assisting businesses in improving the usability of their applications is one of WalkMe’s other areas of interest. The platform can identify broken forms and other UI issues in an application. It also picks up on more subtle problems, including when a particular action takes too long for users to finish.

To assist businesses in enhancing the usability of their applications, WalkMe offers an in-app guide implementation solution. These instructions come in the form of pop-up panels that show up when a feature of the application is needed. Moreover, WalkMe allows developers to alter the content for various users and incorporate other pointers into a service’s UI.

Embedding a chatbot into an application is another method to make their products more accessible to use. Software projects can be completed more quickly due to WalkMe’s platform, which comes with a readymade AI helper that eliminates the need for developers to create one from scratch. According to the business, its chatbot can automatically complete activities including filing support cases and retrieving information.

In the most recent quarter, WalkMe’s sales were USD 68.6 million, a six percent increase over the same period last year. As of March 31, 536 firms that spend more than USD 100,000 a year on the company’s products were part of its installed base.

SAP anticipates finalizing the transaction in the upcoming quarter. The software giant will then use WalkMe’s capabilities to improve Joule and Enable Now, two of its products.

SAP started implementing the chatbot Joule throughout its software line last year. It can automate processes like figuring out why products delivery delays occur and displaying sales data in graphs. Additionally, SAP plans to incorporate a portion of WalkMe’s features into its Enable Now service, which enables businesses to develop in-app tutorials and other educational content like training programs.