“It is the blessing of Hashem that enriches, And no toil can increase it.” Proverbs 10:22 (The Israel Bible™)
SAP, the world’s fourth-largest software company, announced over the weekend it has acquired the Israeli startup Gigya for $350 million in cash (1 billion NIS). The deal is expected to be finalized within the next few weeks.
The German multinational software giant data processing, whose name stands for “systems, applications and products,” has been active in Israel since 1998. In 2001 SAP acquired Israeli company Top Tier for $400 million, and in 2004 it bough A2I for $10 million. The company is headquartered in Raanana and employs over 700 workers.
The customer-identity management company Gigya was founded in 2006 in Tel Aviv by Eyal Magen, Rooly Eliezerov and Eran Kutner. The company currently maintains offices in California, New York, Tel Aviv, London, Paris, Hamburg, and Sydney.
Gigya employs 100 people in Israel. Its core operation focuses on analyzing user data for large internet websites, and its clients include Fox News, Forbes, Pepsi and the NBA. Gigya’s technology is used by some of the largest media corporations to “get to know” their users by analyzing user habits in the hope of cementing user loyalty.
Gigya has raised $104 million to date in seven financing rounds, the latest in November 2014. Gigya investors include Israel’s Vintage Investment Partners, Adobe, Intel Capital and Advance Publications, which owns the American mass media company Condé Nast. The company’s value in the last round was estimated at $300 million.