SAP Snaps Up E-commerce Tech Biz Hybris, Plans to Keep It Independent
Enterprise software company SAP announced Wednesday it acquired e-commerce software company hybris, which has its U.S. headquarters in New York and offices in Boston. The deal is expected to close by the third quarter with hybris operating as an independent business within its new parent company.
Germany-based SAP said it plans to combine its technology with hybris’s commerce software to provide data and other tools for managing customer relationships.
Headquartered most recently in Zug, Switzerland, hybris also has U.S. offices in Chicago. The company developed a merchandising, data, and Web content management platform.
In March, hybris raised $30 million in a round led by Meritech Capital Partners. At the time of the funding deal, hybris planned to put those resources toward expansion in Europe and North America.