SAP has agreed to acquire SmartRecruiters, a recruiting software company, with the deal expected to close in the fourth quarter of 2024.

SmartRecruiters is a firm that provides cloud-based hiring and recruitment management tools.

SAP said the acquisition will enhance its existing human resources software by integrating SmartRecruiters’ candidate management features.

Financial terms of the transaction were not disclosed.

SmartRecruiters last raised US$110 million in a series E funding round in 2021, which valued the company at US$1.5 billion.

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