German enterprise application software giant SAP said it will buy travel expense management developer Concur Technologies (CNQR) for some $8.3 billion, which equates to $129 a share or a 20 percent bump over Concur’s Sept. 18 $107.80 closing price.

The 21-year old Concur, which became publicly held in 1998, recorded $546 million in sales last year and is on course to post $700 million in revenue this year, officials said. Concur provides services to more than 23,000 companies and has 25 million active users in 150 countries. Credit card company American Express owns a 13.5 percent interest in Concur.

“We have always been focused on making solutions for real customer problems, and with SAP we have a great opportunity to advance that mission,” said Steve Singh, Concur chief executive.

For SAP, the Concur deal follows a $4.3 billion acquisition of Ariba in 2012 and another deal to buy Fieldglass this past March. Ariba, a B2B cloud-based commerce platform, and Fieldglass, a cloud-based vendor management systems provider, along with Concur flesh out SAP’s business network portfolio, said Bill McDermott, SAP chief executive.

“The acquisition of Concur is consistent with our relentless focus on the business network,” he said. “With Ariba, Fieldglass and Concur, SAP is the undisputed business network company,” said McDermott. “We are redefining how businesses conduct commerce across goods and services, contingent workforces, travel and entertainment.”

From SAP’s perspective, here are some high points of the deal:

The transaction is expected to close as soon as Q4 2014 or in Q1 2015. Concur will operate under the SAP umbrella and report to McDermott.