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moncler jackets for cheapJust about a third of Concur users run SAP software and the southern Germany based company expects to add Concur customers.The Concur acquisition gives SAP deeper access to an area of corporate finance where it is not dominant."SAP now has a business network that is 75% bigger than Amazon, eBay and Alibaba combined," said CEO McDermott.SAP is competing with global rivals including IBM and Oracle to exploit surging demand for web based software.SAP entered the cloud business quite late in 2012 after spending $7.7 billion on buying internet based computing companies Ariba and SuccessFactors.It expects to get 3 billion 3.5 billion euros in sales from cloud computing by 2017 out of a total of at least 22 billion, but McDermott said that SAP will raise the outlook after completion of the Concur acquisition.Concur's revenue for the fiscal third quarter ended in June rose 28.6 pct to $178.37 million.The Concur board of directors has unanimously approved the transaction, which is expected to close in the fourth quarter of 2014 or the first quarter 2015, subject to shareholder and regulatory approvals, SAP said.The acquisition would be funded from a credit facility agreement of up to 7 billion euros, SAP said, which was advised by Deutsche Bank. Concur was advised by boutique bank Qatalyst..


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