Add-on Acquisition • Staffing

SAP Acquires SmartRecruiters

On August 1, 2025, SAP acquired staffing company SmartRecruiters from W Capital Partners

Acquisition Context
  • This is SAP’s 2nd transaction in the Staffing sector.
  • This is SAP’s 36th transaction in the United States.
  • This is SAP’s 20th transaction in California.

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M&A Deal Summary

Date August 1, 2025
Target SmartRecruiters
Sector Staffing
Buyer(s) SAP
Sellers(s) W Capital Partners
Deal Type Add-on Acquisition
Advisor(s) J.P. Morgan Securities (Financial)

Target Company

SmartRecruiters

San Francisco, California, United States
SmartRecruiters is an enterprise software business that provides talent acquisition solutions to more than 780 mid-market and enterprise customers. SmartRecruiters enables recruiters and hiring teams to better identify and engage with candidates, as well as streamline selection and hiring. SmartRecruiters was founded in 2010 and is based in San Francisco, California.
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Buyer Overview 1

Buyer

SAP

Walldorf, Germany

Category Company
Founded 1972
Sector Software
Employees108,929
Revenue 34.2B EUR (2024)
DESCRIPTION
SAP office in Downers Grove, Illinois.
SAP office in Downers Grove, Illinois.

SAP is a multinational software company that makes enterprise software to manage business operations and customer relations. SAP was founded in 1972 and is based in Walldorf, Germany.


Deal Context for Buyer #
Overall 62 of 62
Sector: Staffing 2 of 2
Type: Add-on Acquisition 60 of 60
State: California 20 of 20
Country: United States 36 of 36
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-05 WalkMe

San Francisco, California, United States

WalkMe is a cloud based guidance and engagement platform that helps businesses to simplify the online experiences. WalkMe was founded in 2011 and is based in San Francisco, California.

Buy $1.5B

Seller Profile 1

SELLER

W Capital Partners

Investor Investor Investor Investor Investor


Category Secondary Investor
Founded 2001
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

W Capital Partners is a private investment group focused on direct secondary investments. W Capital Partners has a particular interest in growth equity secondary investments as well as buyout minority secondary investments, where existing shareholders are looking for liquidity. W Capital Partners was founded in 2001 and is based in New York, New York.


Deal Context for Seller #
Overall 19 of 19
Sector: Staffing 1 of 1
Type: Add-on Acquisition 6 of 6
State: California 3 of 3
Country: United States 17 of 17
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-02 Inspirato

Denver, Colorado, United States

Inspirato is a luxury subscription travel brand that offers high-net-worth travelers access to a managed and controlled portfolio of carefully selected vacation options through a subscription model to ensure good value. service and security they demand. Inspirato was founded in 2010 and is based in Denver, Colorado.

Sell -