By Eleanor Reader
SAP is taking on Oracle and Salesforce.com in the cloud services market with the announcement it will acquire Swiss e-commerce firm, hybris.
Founded in 1997 with headquarters in Zug, Switzerland, hybris is the world’s fastest growing e-commerce software company.
The acquisition positions SAP to deliver the “next-generation e-commerce platform, with the choice of on-premise or cloud deployment”, the company stated.
SAP has not disclosed the financial details of the agreement.
“With hybris, SAP has made a decisive move to raise the stakes in customer relationship management and define the next generation customer experience,” said Bill McDermott and Jim Hagemann Snabe, co-CEOs, SAP AG.
The buy-out is expected to close in the third quarter of this year, with hybris continuing to operate as an independent business unit and retaining its existing management team led by Ariel Lüdi, CEO, and Carsten Thoma, president and co-founder.
hybris generated around US$110 million in revenue in 2012 and has about 500 customers worldwide.
“hybris is a recognised leader in commerce platform technology, and the combination with SAP will enable us to deliver complete omni-channel business solutions and continue our strong growth trajectory,” said Lüdi and Thoma.
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