SAP to acquire hybris to boost cloud services

SAP to acquire hybris to boost cloud services
Advertisement
European business software maker SAP AG has bought Swiss software developer hybris to expand its customer management platform, taking on Salesforce.com and Oracle in the multibillion dollar cloud services market.

The two companies announced the deal on Wednesday, but did not divulge financial details. Two sources familiar with the matter told Reuters that SAP paid between $1 billion and $1.5 billion for the company.

SAP declined to comment on the price tag.

Companies focused on the cloud, or providing services over the Internet, have become hot properties of late, commanding intense acquisition interest as corporations move increasingly away from costly in-house IT management. This week, IBM announced a takeover of the website hosting service SoftLayer in a deal that could fetch more than $2 billion.

The SAP-hybris transaction is expected to close in the third quarter of 2013. Founded in 1997 and based in Zug, Switzerland, hybris is focused on e-commerce technology. It generated around $110 million in revenue in 2012 and has about 500 customers worldwide.

Its majority investor is HGGC, a private equity firm based in Palo Alto, California.

Talks with SAP began about five months ago, a second source familiar with the matter said.

SAP similar to No. 1 rival Oracle has been trying to transform itself into a cloud player and reduce its reliance on traditional business software.

In 2012, the company acquired networking and online commerce software developer Ariba in a deal valuing the business at $4.3 billion.

© Thomson Reuters 2013
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cloud services, Hybris, Laptops, PSs, SAP
BlackBerry Z5 entry-level full-touch phone spotted online
US lawmakers to introduce new bill to punish cyber theft
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »