Concur Said to Explore Sale to Software Makers Including SAP

Concur Technologies Inc., a developer of software that helps businesses manage travel expenses, has explored a sale and approached companies including SAP SE to gauge their interest, people with knowledge of the matter said.

Concur is working with an investment bank on the sale and also approached Oracle Corp., said the people, who asked not to be named because the information is private. Oracle decided not to pursue a transaction, one of the people said. Concur rose 6.3 percent to $107.26 at 10:24 a.m. in New York today, giving the company a market value of about $6.1 billion.