SAP has agreed to acquire SmartRecruiters, a recruiting software company, in a move to enhance its HR tools. This acquisition will enable customers to manage the entire candidate lifecycle more efficiently, from sourcing to onboarding. The terms of the deal were not disclosed, but it is expected to close in the fourth quarter of this year. SmartRecruiters had previously raised $110 million in a Series E funding round in 2021, valuing the company at $1.5 billion.
