News

SAP announced Friday that it has reached an agreement to acquire recruiting software company SmartRecruiters.

In a press release, the European software giant said that SmartRecruiters “powerful, user-friendly interfaces and seamless workflows” will complement SAP’s existing HR tools.

Muhammad Alam, the SAP executive board member who leads product and engineering, said in a statement that with this acquisition, “Customers will be able to manage the entire candidate lifecycle — from sourcing and interviewing to onboarding and beyond — all in a single system to streamline the experience for recruiters, hiring managers and, in particular, candidates.”

The terms of the acquisition were not disclosed. The deal is expected to close in the fourth quarter of this year.

SmartRecruiters’ last announced round of funding was a $110 million Series E in 2021, which valued the company at $1.5 billion.