SAP agrees to buy expense software maker Concur for $7.3bn

German firm SAP provides software for transactions

German business software maker SAP has agreed to acquire U.S.-based expense management software maker Concur Technologies Inc in a cash deal valued at $7.3 billion that expands its presence in internet-based software or so-called cloud computing.

SAP said in a statement it would offer $129 per share for Concur, a 20 percent premium over the Sept. 17 closing price.