SAP AG (NYSE: SAP) is buying Hybris Software.
Hybris, headquartered in Zug, Switzerland, develops commerce software for businesses to track data and manage orders. The service includes search, merchandising and web content management.
Walldorf, Germany-based SAP develops business software for distribution sales, project management, manufacturing and project management.
Hybris received a nearly $30 million investment from Meritech Capital Partners, Greylock Israel and HGGC (formerly Huntsman Gay Global Capital), in March.
HGGC is the target’s principal investor, owning a majority stake in the company. HGGC merged iCongo Inc., a software developer based in Montreal, with Hybris in 2011.
For more on Palo Alto, Calif.-based HGGC, see “Dealmakers Are Willing, But Economy Looks Weak.”