SAP has announced that it has agreed to buy US-Israeli customer identity software company Gigya for an undisclosed sum, according to a report published by Reuters.

The deal will enable SAP to gain ground in the online customer relationship marketing arena. Commentators estimated Gigya’s worth at approximately US$350 million. The transaction is expected to close in the final quarter of the year.

“Gigya brings a wealth of skills and expertise that will significantly enhance the SAP Hybris Profile solution and allow us to take leadership of the emerging customer identity and access management market,” said Carsten Thoma, President and Co-Founder of SAP Hybris. “Consumer trust is the main currency to succeed for customer-driven organizations. This is what Gigya is known and recognized for.”

Gigya counts several high-profile companies among its client list, among them, L’Oréal, Bayer and ASOS.