Global business technology provider SAP AG (NYSE: SAP), Walldorf, Germany, has agreed to acquire hybris, an e-commerce technology provider based in Zug, Switzerland. The acquisition will expand SAP's capability to deliver e-commerce solutions through on-premise or cloud deployments.

“hybris puts SAP on the leading edge of the consumer economy,” said Bill McDermott and Jim Hagemann Snabe, co-CEOs, SAP AG. “With hybris, SAP has made a decisive move to raise the stakes in customer relationship management and define the next generation customer experience."

Hybris will operate as an independent business unit and will retain its existing management team led by Ariel Lüdi, CEO, and Carsten Thoma, president and co-founder.

Hybris’ current majority investor is HGGC, a private investment firm based in Palo Alto, CA.