SAP has announced its acquisition of customer identity and access management firm Gigya.
Gigya’s work revolves around helping companies build digital relationships with their customers. Its platform helps businesses manage things like customer profile or preference, as well as different consent and opt-in / opt-out settings.
The financial details of the acquisition were not disclosed, however TechCrunch says the deal is valued at $350 million.
“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,” said Carsten Thoma, president and cofounder of SAP Hybris. “Consumer trust is the main currency to succeed for customer-driven organizations. This is what Gigya is known and recognized for.”
According to SAP’s press release, Gigya currently manages 1.3 billion customer identities.
SAP hopes that with this acquisition, its Hybris will become the first organisation to offer a cloud-based data platform that will enable firms to profile and convert new customers.
“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,” said Patrick Salyer, CEO of Gigya.
“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 well positioned to drive more effective marketing, sales and service through data, while the customer stays in control of how much data is shared.”
Gigya is located in California and currently employs more than 300 people.
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