SAP AG (NYSE: SAP) has agreed to acquire Camilion, a Canada-based provider of product development and management solutions for insurance and financial services organizations. No financial terms were disclosed. Camilion backers include Celtic House Venture Partners and GrowthWorks.

AirAsia Bhd has agreed to acquire a 49% stake in Philippines airline carrier Zest Airways for an undisclosed amount.

Temasek Holdings has agreed to acquire a 5% stake in German chemical company Evonik for more than €600 million, according to Reuters. The move appears to be a precursor to an IPO. The RAG Foundation owns a 75% stake in Evonik, while CVC Capital Partners holds the remainder.

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