Allen & Overy LLP advised SAP AG, the world leader in enterprise software, in connection with the financing of its acquisition of hybris AG, the industry leader in e-commerce platform technology headquartered in Zug, Switzerland. SAP AG and hybris AG announced a corresponding agreement on 5 June 2013.

SAP is financing the acquisition from liquid funds and a syndicated facility provided by Deutsche Bank AG. Closing of the acquisition is expected to occur in the third quarter of 2013, subject to clearance by the competent anti-trust authorities and satisfaction of other customary closing conditions.

Until completion of the acquisition by SAP AG the majority shareholder of hybris AG will have been HGGC, a private company based in Palo Alto, California.

The Allen & Overy team comprised partner Thomas Neubaum and counsel Dr. Mark Hallett (both banking and finance, Frankfurt).