SAP to acquire workforce data firm TechWolf
FILE PHOTO: A logo on the SAP exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. REUTERS/Benoit Tessier/File Photo
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Oct 6 : German software company SAP said on Tuesday it had agreed to buy TechWolf, a Belgian company that analyses workforce data to map employees’ skills and tasks, for an undisclosed sum.
The deal gives SAP a view of its customers’ workforces that its own HR software lacks, at a time when companies reorganise around AI and need to know which skills they have and which they are losing.
• SAP expects to close the acquisition in the fourth quarter, subject to regulatory approval
• It plans to make TechWolf the core of its workforce software for planning hiring, retraining and reorganisation
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• TechWolf will stay independent under CEO Andreas De Neve, keep its Ghent headquarters and continue to serve non-SAP customers
• The head of SAP’s autonomous software division, Manoj Swaminathan, said TechWolf’s data will make SAP’s AI assistant cheaper to run and better at answering questions
• SAP said the two companies already share customers, but named none and gave no figures
Source: Reuters
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