SAP announced on Friday that it has reached an agreement to acquire SmartRecruiters, a prominent company specializing in recruiting software solutions. This significant move aims to bolster SAP’s Human Resources (HR) technology offerings.
In an official press release, the European software giant highlighted that SmartRecruiters’ combination of “powerful, user-friendly interfaces and seamless workflows” is expected to perfectly complement SAP’s existing suite of HR tools. This integration is poised to enhance the capabilities SAP offers to businesses managing their workforce.
Muhammad Alam, an executive board member at SAP responsible for product and engineering, shared insights into the strategic value of this acquisition. He stated, “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.” This unified approach promises to simplify and improve the recruitment process for all stakeholders involved.
While the specific financial terms of the acquisition have not been disclosed, the deal is anticipated to be finalized in the fourth quarter of the current year. This timeline indicates SAP’s commitment to integrating SmartRecruiters’ technology swiftly.
SmartRecruiters’ most recent publicly disclosed funding round took place in 2021, where it successfully raised $110 million in a Series E funding round. This funding valued the company at an impressive $1.5 billion, underscoring its strong market position and growth trajectory prior to the acquisition.
