SAP to acquire SmartRecruiters in HR tech push
SAP announced an agreement on Friday to acquire recruiting software company SmartRecruiters. This move integrates SmartRecruiters’ technology into SAP’s human resources offerings.
SAP stated SmartRecruiters provides “powerful, user-friendly interfaces and seamless workflows” designed to enhance its existing HR tools. Muhammad Alam, SAP executive board member for product and engineering, explained in a statement that the acquisition will let customers “manage the entire candidate lifecycle — from sourcing and interviewing to onboarding and beyond — all in a single system.” He emphasized this consolidation will streamline processes for recruiters, hiring managers, and candidates.
Financial terms remain undisclosed. The transaction is anticipated to finalize during the fourth quarter of this year. SmartRecruiters last secured $110 million in a Series E funding round during 2021, establishing a $1.5 billion valuation at that time.