Frankfurt-based SAP on Wednesday announced it is acquiring Fieldglass, a Chicago-based contingent workforce management firm. Financial details of the deal have not yet been disclosed.
Fieldglass’ cloud-based Vendor Management System (VMS) solution will complement SAP’s cloud-based SuccessFactors human resources applications and its Ariba procurement network.
The deal between the two was announced by SAP co-CEOs Bill McDermott and Jim Hagemann Snabe in a press release which read, “The acquisition of Fieldglass creates a compelling advantage for SAP customers as they access, attract and manage talent via the networked economy.”
“This move reaffirms SAP as the undisputed leader of integrated human resources and procurement in the cloud for businesses of all sizes and industries. Combining Fieldglass with SAP is a significant milestone in our strategy to help businesses simplify everything.”
According to staffing industry analysts, Chicago based Fieldglass has roughly 350 employees with its cloud services used in over 100 countries in 16 languages.
The company is the market leader for VMS solutions offering cloud-based services for procuring and managing contingent labor and services.
Jai Shekhawat, CEO and co-founder of Fieldglass, said “Joining with SAP will allow us to dramatically accelerate our global growth plans and pace of innovation at the unique intersection of the human capital and procurement sectors.”
The deal is expected to close sometime in the second quarter.