The amount of the deal was not disclosed.
The acquisition enables Software AG to strengthen its position in the IoT market and High-Tech Gründerfonds, HCS, Verso Ventures and founders of Cumulocity to exit the company.
Led by Bernd Gross, Chief Executive Officer, Cumulocity offers connectivity for networked digital devices and sensors through a cloud hosted IoT device management and application enablement platform. Embedding Cumulocity’s IoT solutions into Software AG’s portfolio allows enterprises to integrate their IT applications with operational IoT devices.
The acquisition completes Software AG’s portfolio of core Internet of Things software services, which include streaming analytics, on-premise, cloud and hybrid – and now IoT device – integration, in-memory technology, dynamic process management and IoT edge device management.