CWS 3.0: May 14, 2014

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Fieldglass Sale Exceeded $1 Billion, Report Says

Crain’s Chicago Business’ John Pletz reported that the sale of vendor management system Fieldglass to SAP topped $1 billion. Pletz reported in a tweet it was the first deal of more than $1 billion for Madison Dearborn Partners, a Chicago-based private equity firm. Madison Dearborn was a majority investor in Fieldglass.

Madison Dearborn includes a link to the Chicago Business article on its website. However, a spokesman for SAP said the company is not disclosing the amount of the deal as a matter of M&A policy.

SAP had announced in March that it was acquiring Fieldglass.

Last week, Jason Ezratty, president of Brightfield Strategies, wrote the sale of Fieldglass to SAP marked a validation on of the contingent workforce management industry.

Fieldglass posted the largest amount of VMS spend among VMS providers tracked in the 2013 VMS and MSP Supplier Competitive Landscape report by Staffing Industry Analysts.