SAP America to buy Callidus for $2.4 billion

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(Reuters) – German business software group SAP SE on Monday said its unit SAP America Inc will buy cloud-based company Callidus Software Inc for a total enterprise value of $2.4 billion.

The deal represents a per share purchase price of $36, which is a premium of about 10 percent to Callidus’s Monday close of $32.70.

Reporting by Shubham Kalia in Bengaluru; Editing by Sunil Nair