German software firm SAP announced it’s acquiring fellow German firm Signavio, which specializes in cloud-native enterprise business process intelligence and management for an undisclosed fee. Signavio was last valued at $400 million after a $177 million funding round in July 2019.
The announcement was made in conjunction with a new product from SAP called Rise, a bundle of existing SAP software and services aimed at offering customers “business transformation-as-a-service”.SAP will aim to use Signavio’s expertise around business process intelligence to help more customers optimize these processes as they become more digital.
“I cannot overstress the importance for companies to be able to design, benchmark, improve, and transform business processes across the enterprise to support new capabilities and business models,” Luka Mucic, chief financial officer and member of SAP's Executive Board, said in a statement.Virtualization specialist Citrix announced the planned acquisition of collaboration software maker Wrike for what do computer engineers do in cash. Citrix already has a digital work platform called Workspace and will look to fold the Wrike team and technology into that product.
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