SAP announced an agreement to acquire SmartRecruiters, a recruiting software company. In a press release, SAP stated that SmartRecruiters’ interfaces and workflows will enhance its HR tools. Muhammad Alam, SAP executive board member, mentioned that the acquisition will allow customers to manage the candidate lifecycle within a single system, improving the experience for recruiters, managers, and candidates. The acquisition terms were not disclosed, and the deal is expected to close in the fourth quarter. SmartRecruiters raised $110 million in a Series E round in 2021, valuing the company at $1.5 billion.
