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(Reuters) - Travel management and expense software maker Concur Technologies Inc is exploring a sale of the company and has approached Oracle Corp and Germany's SAP SE, Bloomberg reported, citing people with knowledge of the matter.
The company is working with an investment bank on the sale, the report said. (http://bloom.bg/1oAYZY2)
Oracle has declined to buy the company, one person told Bloomberg.
The deal could make sense for both Oracle and SAP since it would make both companies more competitive with Workday, analyst Daniel Ives from FBR Capital said in a note.
Ives sees SAP as the likely buyer because Oracle recently spent about $5.3 billion (3.21 billion pounds) to acquire MICROS Systems Inc.
SAP Chief Executive Officer Bill McDermott and his former co-CEO, Jim Hagemann Snabe, have spent more than $15 billion since 2010 buying suppliers of Web-delivered applications in areas including human resources and purchasing, as well as database maker Sybase, the report said.
Shares of Concur, known for its travel organizer service "TripIt", jumped 13 percent to $114 in after-market trade.
The stock closed at $100.95 on the Nasdaq on Tuesday, valuing the company at $5.7 billion.
Concur spokeswoman Danielle Adams said the company does not comment on rumours or speculation.
SAP and Oracle were not available for comment.
(Reporting by Soham Chatterjee and Subrat Patnaik in Bangalore; Editing by Savio D'Souza and Ken Wills)