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SAP said Monday that it will offer to purchase all shares in SAF Simulation, Analysis and Forecasting AG and that it expects its offer to be accepted.
SAF is a Swiss company whose software helps retailers and wholesalers manage inventory and forecast demand across their supply chains.
A spokesman said the acquisition is consistent with SAP's strategy, which is to acquire small companies that can add to its existing portfolio of software. He said there are no implications for operations or job cuts -- SAF has around 100 employees and they will remain in Switzerland.
The deal is worth close to $91 million. SAP said it will offer 11.50 Euros, or $16.22, per share -- a 9.5 percent premium over SAF's closing price on Friday and a 33.9 percent premium over the average price, weighted by volume, of SAF's shares on the Frankfurt Stock Exchange over the last three months. SAF has revenues of around 13.4 million Euros, or $19 million.
SAF's two co-founders and major shareholders -- Dr. Andreas von Beringe and Gerhard Arminger -- have agreed to sell, and the offer will be made "subject to a minimum acceptance threshold of 50 percent plus one share and the approval of the responsible anti-trust authorities," SAP said.
SAP and SAF have had a technical relationship for the last seven years. SAF makes three software engines " two that automate replenishment for retailers and wholesalers, and one that forecasts demand across all industries.
The software helps companies manage inventory in both warehouses and stores. SAP has already integrated SAF software into its own forecasting and replenishment module and plans to combine with SAF in development and sales, Beringe said.
One analyst told Bloomberg that SAF is a small acquisition for SAP and would likely close a small technological gap.
SAP followed a similar path with its acquisitions of Khi Metrics, which optimizes retail pricing; Triversity, which processes retail transactions; Clear Standards, which helps enterprises measure, optimize and report on their emissions of greenhouse gasses; and Highdeal, which offers real-time pricing and billing software for service providers like telcos, the spokesman said.
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