German software giant SAP has agreed to acquire Belgian AI startup TechWolf, in what the company says is the largest acquisition of a venture-backed software company in Belgian history. Founded in 2018, TechWolf built an AI-powered skills engine used by SAP, Boeing, BNP Paribas Fortis and Societe Generale. The startup raised $43 million from investors including Felix Capital, Notion Capital and Connect Ventures’ 46A.
SAP, based in Walldorf, Germany, has been expanding its AI capabilities through acquisitions. The TechWolf deal follows SAP’s purchase of WalkMe for $1.5 billion in 2024. TechWolf’s technology will be integrated into SAP’s SuccessFactors HR platform, helping customers map employee skills to business needs.
“TechWolf’s skills intelligence solution will help our customers unlock the full potential of their workforce by matching talent to opportunities in real time,” said Gina Mastrodicasa, SAP’s chief operating officer for the Human Experience Management unit. The acquisition is expected to close in the coming months.
TechWolf was advised by Lazard and Wilson Sonsini. SAP used Morgan Stanley and Allen & Overy as advisors. The deal marks a significant step in SAP’s strategy to embed AI across its enterprise software suite.
Source: Sifted · Summarized by HeadlinesBriefing