Huntsman Gay Merges ICongo With Hybris to Expand in E-Commerce

Huntsman Gay Global Capital LLC, the private-equity firm founded by Jon Huntsman and Robert Gay, merged its Canadian software developer ICongo Inc. with Germany’s Hybris GmbH, creating what it calls the world’s largest independent electronic-commerce software business.

Hybris, based in Munich, and Montreal’s ICongo provide companies and manufacturers with software to run Internet sales and manage inventories, the investment firm said today in a statement. Palo Alto, California-based Huntsman Gay, which acquired ICongo with management in November, has a majority stake in the combined Hybris. Terms weren’t disclosed.