SAP is buying hybris, a 16-year-old $85 million-a-year Swiss e-commerce company, expecting to deliver the next-generation e-commerce platform for on-premise and cloud deployment.
It claims the purchase, which many have expected for a long time, puts it at the leading edge of the consumer economy, raising the stakes in customer relationship management (CRM) and defining the next-generation customer experience.
Terms weren’t disclosed, but All Things Digital thinks the deal is costing SAP $1.2 billion-$1.5 billion.
hybris just got $30 million from the VCs in March including Meritech Capital Partners and Greylock Israel. Its majority investor is Huntsman Gay Global Capital (HGGC), a private investment firm based in Palo Alto, California.