05:24 AM EDT, 06/05/2024 (MT Newswires) -- SAP SE ( SAP ) said Wednesday that it has entered a definitive agreement to acquire digital adoption platform company WalkMe Ltd. ( WKME ) for an equity value of about $1.5 billion.

The executive and supervisory boards of SAP and the board of directors of WalkMe ( WKME ) have approved the all-cash transaction at $14 per share. Shares of the Tel Aviv-based company closed at $9.64 on Monday.

WalkMe ( WKME ) will continue to fully support non-SAP applications. The acquisition is expected to close in Q3.

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