SAP AG, a European business software maker, bought the Swiss software developer Hybris. This was to expand the company's customer management platform after taking on Salesforce.com and Oracle according to sources.
Last Wednesday, the two companies announced the deal but did not state financial details. Two sources having knowledge of the matter told Reuters that the deal was priced between US$1 billion and US$1.5 billion.
SAP declined to give comments on the price reported.
Companies are getting more directed to services provided in the Internet by different firms. It has become hot properties lately. In fact, just this week IBM also announced acquisition of website hosting service SoftLayer for a roughly US$2 billion priced deal.
By third quarter of this year, the SAP-Hybris transaction is expected to be completed said sources. Swiss software developer Hybris was founded in 1997 and generated US$110 million revenue in 2012. It has also about 500 customers all over the world.
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