By Denny Jacob

Software company SAP SE said Wednesday that investment firm Francisco Partners signed an agreement with subsidiary SAP America Inc. to acquire SAP Litmos.

Terms of the agreement weren't disclosed. The transaction is expected to close in the fourth quarter.

The current Litmos leadership team is expected to continue in similar roles in the new standalone company, SAP said.

"We are confident that the best opportunity for Litmos to provide growth and innovation for its customers, employees and business is to operate as a stand-alone company," SAP SuccessFactors Product Chief Meg Bear said.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

August 17, 2022 11:57 ET (15:57 GMT)

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