SAP has announced that it will buy contingent workforce management firm Fieldglass to boost its cloud services.
The financial details of the acquisition were not revealed, but SAP will gain Fieldglass' cloud-based Vendor Management System (VMS) solution for management of flexible labour.
The solution combines with other SAP products to helps businesses take care of all factors of employment, including recruitment, development, performance management, retention, and retirement.
Fieldglass is based in Chicago and has roughly 350 employees. Its cloud services are used in over 100 countries, and the company is the market leader for VMS solutions, according to Staffing Industry Analysts.
"The acquisition of Fieldglass creates a compelling advantage for SAP customers as they access, attract and manage talent via the networked economy," said Bill McDermott and Jim Hagemann Snabe, co-CEOs and Executive Board members of SAP.
"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."
The acquisition is expected to close in the second quarter of 2014.