WalkMe, an Israeli startup that guides users through online tasks step-by-step, is being bought in a deal that values it at $1.5 billion, making one of the highest-value deals in Israel this year.
The AI-powered software-as-a-service company is being acquired by German software firm SAP, and its technology is used by 2,000 companies in 160 countries, including over 30 percent of the Fortune 500 roster. Its clients include IBM, Nestle, LinkedIn, ThermoFisher Scientific and the U.S. Department of Defense.
Founded in 2011, WalkMe went public on Nasdaq in June 2021, with a $2.5 billion valuation. It was valued at less than $880 million the day before SAP announced the $1.5 billion acquisition.
This strategic move aligns with SAP’s Business Transformation Management portfolio. SAP, which has previously bought 11 other Israeli companies, says WalkMe will be integrated into its existing operations in Ra’anana and Tel Aviv, both in central Israel.
WalkMe’s Digital Adoption Platform (DAP) operates across an organization’s application landscape, providing tailored support and automation to address user challenges.
In the near future, WalkMe plans to introduce WalkMeX copilot, utilizing contextual awareness and AI to recommend next steps across workflows and applications. This feature is designed to integrate seamlessly with SAP’s AI copilot, promising enhanced productivity for SAP customers.
Additionally, the integration of WalkMe’s e-learning capabilities with SAP Enable Now is expected to play a significant role in SAP’s people-centric transformation strategy going forward.
“We are thrilled to join forces with SAP,” said Dan Adika, CEO of WalkMe and veteran of an elite IDF intelligence unit.
“This acquisition marks a significant milestone in our journey, providing us with the resources and customer base necessary to enhance our product offerings and expand our market reach.”
In a blog post on the WalkMe website he said the mission since the day the startup was launched had been clear – to transform the way people interact with technology.
“By pairing WalkMe with SAP’s extensive ecosystem and vast product suite, we can accelerate this mission and offer customers an end-to-end solution for transforming their businesses to achieve the full promise of GenAI,” he wrote. “From applications, to processes, to data, to people.”
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