SAP SE (ETR: SAP) agreed to buy Concur Technologies Inc. (Nasdaq: CNQR) for $7.4 billion in the biggest acquisition by the 42-year-old German software maker, months after Bill McDermott took over as sole chief executive officer.

In a boost to its cloud-computing business, SAP will pay $129 a share for Concur, 28 percent more than the stock’s Sept. 2 close, the day before Bloomberg reported the Bellevue, Washington-based company was exploring a sale with SAP. Shares of SAP fell as much as 3.2 percent in Frankfurt. The purchase will be funded from a credit line of as much as 7 billion euros ($9 billion), SAP said yesterday

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