By Emma-Victoria Farr and Krystal Hu
LONDON (Reuters) – German software firm SAP is working with investment bank Moelis & Co to sell its $1 billion corporate learning software business Litmos as it seeks to streamline its operations and focus on cloud-based revenue, sources told Reuters. The sale of California-based Litmos is expected to start in the coming weeks as part of an auction process primarily targeting tech-focused private equity funds in the United States and Europe, two of the sources said. Representatives at SAP and Moelis declined to comment.
(Reporting by Emma-Victoria Farr and Krystal Hu, additional reporting by Nadine Schimroszik, editing by Pamela Barbaglia and Jason Neely)
