SAP SE is in talks to acquire German enterprise software company Signavio as it seeks to expand its cloud offerings, people with knowledge of the matter said.
An agreement to acquire Berlin-based Signavio could be announced as soon as this week, according to the people, who asked not to be identified because the information is private. A deal could value Signavio, whose backers include Apax Partners, at about 1 billion euros ($1.2 billion), the people said.
Signavio makes web-based business process management software that companies use to keep track of workflows in their daily operations. Apax Digital, the growth equity arm of Apax Partners, and venture capital firm DTCP invested in Signavio as part of a $177 million funding round in 2019.