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Allen & Overy advises SAP SE on planned takeover of Callidus Software Inc.

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Shube Eric
Eric Shube

Partner

New York

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Neubaum Thomas
Thomas Neubaum

Partner

Frankfurt am Main

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30 January 2018

Allen & Overy LLP has advised SAP SE (SAP), the world's leading enterprise software provider, on its planned takeover of Callidus Software Inc., the leader in cloud based Lead to Money (Quote-to-Cash) solutions. A corresponding agreement was signed by SAP America, Inc., a subsidiary of SAP SE, and US-based Callidus Software Inc. on 30 January 2018. 

In this context, Allen & Overy advised SAP both in connection with the financing of the planned acquisition and all M&A-related issues. The transaction is valued at approximately USD 2.4 billion. 

SAP will finance the acquisition with cash on hand and with an acquisition term loan. The transaction is expected to be closed in the second quarter of 2018, but is still subject to the approval of the CallidusCloud shareholders, clearance by the competent cartel authorities and the granting of further approvals as are customary in this context.

The Allen & Overy team for SAP SE was led by partners Thomas Neubaum (Banking and Finance, Frankfurt) and Eric Shube (Corporate/M&A, New York), counsel Dr. Mark Hallett and associate Louisa Drewniok (both Banking and Finance, Frankfurt) as well as associates Meredith Younger, Loren Thomas and Marjorie Mygrants (Corporate/M&A, New York).