Enterprise software provider SAP agreed on Sunday to acquire US-based customer management platform Gigya in a deal that will enable chipmaker Intel, software provider Adobe and media group Advance Publications to exit.
SAP will pay $350m for the company, which had disclosed approximately $104m in funding, sources told TechCrunch. It was valued at $250m in its last round, in 2014, according to analytics firm Zirra.
Founded in 2006, Gigya has developed a customer identity management platform that helps businesses register customers, manage their details and maintain relationships with them, with the option to provide them with specialised services at the same time.
Gigya will become part of SAP Hybrid, the corporate’s customer engagement and commerce division, the two having partnered since 2013.
Intel’s corporate venturing unit, Intel Capital, led the 2014 round, a $35m series F that included Advance Publications, Adobe, Vintage Investment Partners, Greenspring Associates, Benchmark Capital, Common Fund Capital, Mayfield Fund and DAG Ventures.
Advance Publications had previously contributed to Gigya’s $25m series E round the year before, which was led by Greenspring Associates and backed by Benchmark Capital, Mayfield Fund and DAG Ventures.
Gigya chief executive Patrick Salyer said: “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.”