Gigya's founders Rooly Eliezerov, left, Eran Kutner and Eyal Magan

Gigya’s founders Rooly Eliezerov, left, Eran Kutner and Eyal Magan

 

SAP, Europe’s biggest software firm and the world’s fourth biggest, has agreed to pay over $350 million in cash for Israel’s Gigya, TheMarker has learned.

The final details will be completed and made public within a few weeks. Eyal Magen, Rooly Eliezerov and Eran Kutner, the co-founders of Gigya, which provides a customer-identity management platform for large Internet sites, will each receive $17 million.
Gigya analyzes user data for large publishers. Its clients include Fox, Forbes and Turner, and among its investors are Israel’s Vintage Investment Partners as well as Adobe, Intel Capital and Advance Publications, which owns Condé Nast.

Gigya raised $104 million in seven rounds, the last in 2014, when it was valued at $300 million. Gigya has 100 employees in Israel.

To read the complete article from Haaretz, please click here.