SAP acquires hybris in bid to boost cloud credentials
June 6, 2013
Grazed from CloudPro. Author: Jane McCallion.
SAP has confirmed it is to bolster its cloud offering by acquiring Swiss e-commerce software provider hybris software, with completion expected in the third quarter of 2013. hybris, which was founded in 1997, offers an enterprise commerce suite for both business and consumer facing sales that incorporates web, mobile, call centre and in-store functionality.
Its products, which are delivered either in a Software-as-a-Service (SaaS) model or on premise, help businesses of all sizes increase sales across all vectors irrespective of location, the company claims. According to Forbes, the deal follows years of speculation that SAP would buy hybris, although there had been recent anticipation of a hybris IPO in 2014…
In a statement announcing the acquisition, SAP pointed to the growing e-commerce technology market, which it claims is valued at $37 billion (£23.94 billion) by analysts, and its increasing importance in building and maintaining customer relationships as reasons for the purchase. Bill McDermott and Jim Hagemann Snabe, co-CEOs of SAP, said: “hybris puts SAP on the leading edge of the customer economy. With hybris, SAP has made a decisive move to raise the stakes in customer relationship management and define the next generation in customer experience.”…
Read more from the source @ http://www.cloudpro.co.uk/saas/5671/sap-acquires-hybris-bid-boost-cloud-credentials