Concur Technologies, Inc. Deal Could Set Off Merger 'Wave'

Concur Technologies, Inc.'s (NASDAQ: CNQR) agreement to be acquired for $7.36 billion by SAP SE (NYSE: SAP) could drive the share value of competitors, a number of analysts said Friday.

The deal could touch off “another consolidation wave" among subscription software providers, according to Oppenheimer's Brian Schwartz.

Germany-based SAP agreed Thursday to pay $129 per share for Concur, a 20 percent premium on Bellvue, Washington, Concur's September 17 closing price. The deal is expected to close by early 2015.

Analysts Friday promptly produced their respective laundry lists of merger candidates in the sector.

Evercore's Kirk Materne speculative list included Ultimate Software Group Inc., which gained 0.5 percent Friday afternoon, Cornerstone OnDemand Inc., down more than 1 percent and Demandware Inc. up 0.2 percent.

Additional companies that could be subject to related takeover speculation according to Credit Suisse's Michael Nemeroff: Textura Corp down 1 percent Friday, Callidus Software Inc. unchanged and Synchronoss Technologies, Inc., down 2 percent.

Besides SAP, potential buyers in the supposedly pending wave of mergers according to Oppenheimer's Schwartz may include Oracle Corporation, International Business Machines Co. and Microsoft Corporation.