SAP, the German multinational software corporation, has agreed to buy Israeli software startup Gigya for $350 million, The Marker financial website reported on Sunday, without saying where it got the information.

Gigya, founded in 2006 by Rooly Eliezerov, Eran Kutner and Eyal Magen, has created web identity software that businesses can use to identify customers, aggregate data and personalize campaigns. More than 700 of the world’s leading businesses, including Speedo, Bayer, Toyota, Forbes and Fox, use Gigya to build identity-driven relationships, according to Gigya’s website.

The Mountain View, California-based company, which has offices in Tel Aviv, London, New York, Paris and Hamburg, among others, has raised a total of $105.8 million in funds from 10 investors, including Intel Capital and Benchmark, according to data provider Crunchbase. The company leads the customer identity and access management market, according to reports by both Garner and KuppnegerCole.

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The company employs some 320 workers, 100 of whom are in Israel, and has revenues of tens of millions of dollars a year, The Marker said.

There was no immediate comment from a SAP representative in Israel or from Gigya.

SAP has over 335,000 global customers in over 180 countries. In May the German firm moved its Israel R&D activities into new NIS 240 million ($69 million) headquarters in the industrial area of Ra’anana.

SAP Israel serves some 3,400 customers in Israel among which are the government, the Israeli military and a total of over 220,000 users. SAP Labs, its R&D center, is one of four centers the software firm has around the world and employs some 800 workers and engineers locally, focusing on cloud technologies, computer vision and Internet of Things developments.