SAP has agreed to acquire Fieldglass, a provider of technology for procuring and managing contingent labor and services and a portfolio company of Madison Dearborn Partners. SAP expects to complete the transaction in the second quarter of 2014.
Fieldglass, acquired by Madison Dearborn in October 2010, is a provider of vendor management services that are used by Global 2000 companies to manage and track their use of temporary labor. The company was founded in 1999 and is headquartered in Chicago with additional offices in London and Sydney (www.fieldglass.com).
Madison Dearborn Partners has more than $18 billion of capital under management. Sectors of interest include basic industries; business and government services; consumer; financial and transaction services; health care; and telecom, media and technology services. The firm has 44 investment professionals, consisting of 29 Principals and 15 Associates. Madison Dearborn was founded in 1992 and is based in Chicago (www.mdcp.com).
SAP (NYSE: SAP) is a market leader in enterprise application software. The company was founded in 1972 and is headquartered in Walldorf, Germany (www.sap.com).
“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 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.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-27-14