SAP announced on Friday that it has reached an agreement to acquire recruitment software company Smartrecruiters.
In a press release, the European software giant said that Smalt Cruters will complement SAP's existing HR tools with “powerful, easy-to-use interfaces and seamless workflows.”
Muhammadharam, a member of the SAP Executive Committee, which leads products and engineering, said the acquisition will allow customers to “manage everything in a single system to streamline the experience of recruits, especially recruits, especially candidates, from managing and interviewing the entire lifecycle of candidates to onboarding and more.”
The terms of the acquisition have not been disclosed. The transaction is expected to close in the fourth quarter of this year.
The funding for Smartrecruiters' final announcement was a $110 million Series E in 2021, valued the company at $1.5 billion.