SAP has agreed to acquire e-commerce technology company Hybris. The terms of the deal were not disclosed.
The transaction is expected to close in the third quarter of 2013 and subject to regulatory approval and customary closing conditions. Hybris will operate as an independent business unit and will retain its existing management team, once the acquisition is complete.
Hybris delivers enterprise software and on-demand solutions for multi-channel commerce, master data management and order management. Founded in 1997 with headquarters in Zug, Switzerland, the company’s majority investor is HGGC, a private investment firm based in Palo Alto, California.