(Bloomberg/Christina Kyriasoglou) — SAP SE, Europe’s most valuable company, will buy San Francisco-based human resources software specialist SmartRecruiters.
The US company works with high-volume recruiting and recruitment automation, SAP said in a statement Friday. It didn’t disclose the terms of the deal, which is expected to close in the fourth quarter.
The US is SAP’s most important market, accounting for more than 30% of the Walldorf, Germany-based software company’s revenue.
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Chief Executive Officer Christian Klein, who took the helm in 2019, has generally made smaller deals than predecessor Bill McDermott. In recent years, SAP bought German startups Signavio and LeanIX, as well as US company WalkMe for $1.5 billion in 2024. The acquisitions were designed to help customers to migrate from legacy software installed on servers to the cloud.
SmartRecruiters was valued at $1.5 billion in a 2021 funding round led by Silver Lake Waterman.
SAP became the continent’s most valuable company in the last year in large parts because of its growing cloud revenues. Moving a customer to the cloud, where spending per client is higher, is a complex, multiyear project that can’t easily be dialed back.
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