Updated December 27th, 2023 at 15:35 IST

Software AG eyes selling two other platforms after IBM deal

Earlier this month, Software AG confirmed an agreement to offload its StreamSets and webMethods platforms to technology giant IBM

Reported by: Business Desk
Representative | Image:Unsplash
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Software AG, predominantly owned by private equity entity Silver Lake, has reportedly initiated discussions with competitors and investors to solicit bids for two of its software platforms. According to sources cited by Handelsblatt on Wednesday, the German firm is actively seeking buyers for its Trend Miner and Cumulocity platforms. Additionally, the company is contemplating strategic alternatives for its Alfabet software offering.

Trend Miner serves as a data analysis tool tailored for industrial applications, while Cumulocity focuses on facilitating operations within the Internet of Things (IoT) sector. Meanwhile, Alfabet is integral for visualising organisational architecture.

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As of the time of this report, Software AG has not issued any comments or statements regarding these potential divestitures.

Earlier this month, Software AG confirmed an agreement to offload its StreamSets and webMethods platforms to technology giant IBM. Concurrently, Silver Lake unveiled a delisting proposal for Software AG at a per-share price of 32 euros, marking a significant development subsequent to its acquisition of the majority stake in the company earlier in the year.

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(With Reuters inputs)

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Published December 27th, 2023 at 15:21 IST