Friday 31st August, 2012
Ariba has said that its shareholders have approved SAP AG's proposed $4.59 billion acquisition of the company, and the deal is expected to close in the fourth quarter, although regulators have still got to approve the sale.
Back in May SAP announced that it would pay $45 per share for Ariba whose revenue grew almost 40 percent to $444 million in its latest fiscal year. SAP has said the deal should add to its adjusted profit in 2013.
In response to the announcement Ariba shares rose 2 cents to $44.62.