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News Summary: SAP to buy Ariba for $4.5 billion

Associated Press Published: May 22, 2012

THE DEAL: Business software maker SAP AG agreed to buy Ariba Inc., which makes Web-based software that connects suppliers and buyers online, for about $4.51 billion.

THE TREND: The deal continues SAP's rivalry with database maker Oracle Corp. Both companies are buying up smaller ones that, like Ariba, provide software that's hosted on remote servers, in the so-called "cloud." Cloud-based applications remove the need for businesses to install and run software in-house.

THE DETAILS: SAP said it is offering $45 per share for Ariba.