SAP AG (SAP, SAP.XE) on Friday began its roughly $3.4 billion acquisition of SuccessFactors Inc. (SFSF), outlining a tender offer that will last until Jan. 18 at 5 p.m. EST.

SAP has said the deal will significantly accelerate its cloud applications, platforms and infrastructure technology.

The $40 per-share offer for all outstanding SuccessFactors shares represents a 52% premium over the closing share price earlier this month, before the company disclosed the deal.

The transaction will be funded from SAP's cash on hand and a EUR1 billion term loan facility.

SAP's American depositary shares closed at $54.61 Friday, while SuccessFactors closed at $39.88. Both stocks were inactive after hours.

 
   -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com
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