WALLDORF (dpa-AFX) - Enterprise software company SAP SE (SAP), announced on Tuesday that it has agreed to acquire TechWolf, a provider of AI work intelligence platform that gives enterprises an evidence-based view of employee skills and tasks. Financial terms of the deal were not disclosed.
SAP said the deal will bring TechWolf's proprietary context graph, AI models and applied research team into SAP, making work intelligence a strategic asset.
TechWolf's platform integrates with HR and business systems to map work, skills and labor market data against corporate strategy. SAP plans to embed the technology into its SuccessFactors portfolio to support talent management, workforce planning and organizational redesign.
SAP said the acquisition will help customers guide re-skilling, internal mobility and hiring decisions in the age of AI. TechWolf will remain headquartered in Ghent under CEO Andreas De Neve, with offices in London, New York and San Francisco, and its platform will continue to be available to SAP and non-SAP customers.
The deal is expected to close in the fourth quarter.
On the NYSE, shares of the company are currently gaining 1.90 percent, changing hands at $211.80.
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