Siemens Acquires Low-Code Application Development Company Mendix, for €600M

Funding Rounds

▤ Summary

Siemens AG , a Berlin and Munich, Germany-based technology company, is to acquire Mendix , a provider of low-code application development solutions, for €0.6 billion.Closing of the transaction is subject to customary conditions and is expected in the first quarter of fiscal year 2019.Founded in 2005 in Rotterdam, Netherlands, by Derek Roos, CEO, and headquartered in Boston, Massachusetts, Mendix provides a software-as-a-service, low-code platform to build and continuously improve mobile and web applications at scale.The platform, available through SAP and IBM, is used by more than 4,000 enterprises, including KLM, Philips and Royal DSM, to build business applications and to improve operational efficiency.It will retain its brand and culture while Siemens will continue to invest in the company’s independent product roadmap.

$ Funding

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Amount - Total raised
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Date - Announcement date
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Investors Siemens Technology Accelerator Lead investors
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Company - Funded company

▥ Classifications

industries
Services
applications
Data Management

◇ AskAI Classifications

Labels
Low-Code Development Platforms Application Development Software Enterprise Software

▦ Linked Companies

Mendix
$100M to $250M
Siemens AG
$1B+