Software giant SAP SE (NYSE: SAP) has confirmed that it is buying Israeli customer identity management startup Gigya. No financial terms were disclosed but sources inform "Globes" that SAP will be paying $350 million cash for the company.
SAP Hybris cofounder and president Carsten Thoma said, “Gigya brings a wealth of skills and expertise that will significantly enhance the SAP Hybris Profile solution and allow us to take leadership of the emerging customer identity and access management market. Consumer trust is the main currency to succeed for customer-driven organizations. This is what Gigya is known and recognized for.”
SAP Hybris said that following the acquisition it intends to become the first organization to offer a cloud-based data platform enabling companies to profile and convert new customers, gather accurate conclusions from disparate consumer engagement sources and collect data for enhanced consumer choices that are in line with regulations.
Gigya says that its customer identity management platform helps companies build digital relationships with their customers. Its platform allows companies to manage customers’ profile, preference, opt-in and consent settings, with customers maintaining control of their data at all times. Customers opt-in and register via Gigya’s Registration-as-a-Service, which addresses changing geographical privacy issues and manages compliance requirements such as the upcoming General Data Protection Regulation (GDPR). Gigya currently manages 1.3 billion customer identities in order to build identity-driven relationships for its enterprise clients.
Gigya adds that its technology provides new capabilities to consumers across channels and touchpoints, builds rich intelligent profiles and creates a consent-based approach to personalization across sales, service, and marketing. Gigya, an SAP Hybris partner since 2013, has customers already using a solution extension from SAP Hybris and Gigya. This acquisition will enable the teams to further build upon this existing strong relationship.
Gigya CEO Patrick Salyer said, “Combining the data matching and enrichment capabilities of SAP Hybris Profile with Gigya’s consent-based identity data and access management platform will allow us to identify consumers across channels and offer a robust single consumer profile. This is a vital step for digitalizing businesses because companies need to be able to draw accurate conclusions seamlessly across all channels, including web, mobile, in-store or connected devices, and the Internet of Things, as well as collect data about consumer preferences. Together, we are uniquely positioned to drive more effective marketing, sales and service through data, while the customer stays in control of how much data is shared.”
Gigya has more than 300 employees worldwide including over 100 in Tel Aviv. Goldman Sachs & Co. LLC acted as the exclusive financial advisor to Gigya.
Published by Globes [online], Israel business news - www.globes-online.com - on September 24, 2017
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