Germany based, world leader in enterprise software development SAP, recently announced its plans for acquisition of Hybris, an ecommerce company for an undisclosed amount as revealed on Hybris website.
With this acquisition, SAP is eyeing the US$37 billion and growing ecommerce technology market. The combination of industry-leading enterprise solutions from SAP with the omni-channel commerce solutions of Hybris will provide enterprises with the enhanced data and tools necessary to optimize margins and customer loyalty.
As stated by Bill McDermott and Jim Hagemann Snabe, co-CEOs, SAP AG, with Hybris, SAP has made a decisive move to raise the stakes in customer relationship management and define the next generation customer experience.
Carsten Thoma, president and co-founder, Hybris said, “Joining with SAP will significantly expand the scope, scale and power of hybris’ commerce platform, and allow us to deliver the next generation of customer engagement innovation across all channels.”
The deal is expected to close by this year’s third quarter. Also, Hybris will continue operate as an independent business unit and will retain its existing management team led by Ariel Lüdi and Carsten Thoma.
SAP company’s previous acquisitions include:
1) TopTier Software, a software solutions provider for $400 million in 2001
2) Business Objects, a business intelligence company in 2008
3) Sybase, the largest business software and service provider specializing in information management and mobile data use in 2010
4) SuccessFactors, providing cloud-based human capital management for $3.4 billion in 2011
5) Sunnyvale,supply chain network operator for $4.3 billion in 2012
6) Syclo, Leading Provider of Mobile Asset Management and Field Service Solutions in 2012
Hybris, founded in 1997 is one of the world’s fastest growing e-commerce software company which provides E-Commerce software and multi-channel solution to help enterprises across the globe. With a CAGR of 83%, the company serves more than 400 customers in more than 500 companies around the world such as Thomson Reuters, Levi’s, Nikon, General Electric, P&G, Toys”R”Us and Lufthansa.
Hybris raised an undisclosed amount of funding in 2011 from Huntsman Gay Global Capital followed by a $30 million round in first quarter of 2013 from Meritech Capital Partners and Greylock Israel). Hybris was also expected to file an IPO in 2014 which will no longer be required now.
Also, under a similar strategy, in 2011, Oracle, one of the leading enterprise software company acquired Art Technology Group(ATG), for $1 billion. ATG was a leading provider of eCommerce software and related on demand commerce optimization applications
According to Forbes, with the hybris acquisition, The enterprise commerce space has now entered a new phase of maturity and will now be dominated by four large software companies: SAP(Hybris), IBM(Smartcommerce), Oracle(ATG) and eBay(Magento).