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Enterprise software giant SAP on Wednesday announced that it has entered into a definitive agreement to acquire digital adoption platform WalkMe in an all-cash transaction worth $1.5 billion. 

The acquisition is expected to close in the third quarter (Q3) of 2024.

"By acquiring WalkMe, we are doubling down on the support we provide our end users, helping them to quickly adopt new solutions and features to get the maximum value out of their IT investments," Christian Klein, CEO and member of the Executive Board of SAP SE, said in a statement.

WalkMe’s solutions help organisations navigate constant technology change by providing users with advanced guidance and automation features that enable them to execute workflows seamlessly across any number of applications, the company mentioned.

"By leveraging SAP’s extensive ecosystem, we are poised to unlock substantial growth opportunities and deliver even greater value to our customers. Together, we look forward to a future filled with innovation and exceptional service," said Dan Adika, CEO of WalkMe.

WalkMe helps organisations boost enterprise productivity and lower risk by enabling consistent, effective and efficient use of software and the workflows it enables.