SAP Grabs Swiss Software Firm To Boost Cloud Offerings

Law360, New York (June 6, 2013, 2:41 PM EDT) -- Software company SAP AG will scoop up Swiss software developer Hybris AG to ramp up its cloud-based offerings, giving it a chance to edge out big-name rivals Inc. and Oracle Corp. that have dominated the lucrative cloud-computing sector, the company said Wednesday.

The firms did not disclose a purchase price or give a financing breakdown for the transaction, which they expect to finalize in the third quarter pending regulatory approvals.

With its Hybris pickup, SAP — the world's largest business software maker — fleshes out...
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