Siemens has signed an agreement to acquire Mendix, a company with expertise in cloud native low code application development. Under the agreement, Siemens will pay in cash $700 million to acquire the company. Mendix will retain its brand, culture and continue serving customers. Siemens will continue to invest in Mendix’s independent product roadmap. Mendix will be part of the software business of Siemens’ Digital Factory (DF) division, with the Mendix platform also
deployed across other Divisions.
“We acquire Mendix to extend our leading position in digitalizing the industrial world, which is a cornerstone of our Vision 2020+”, said Klaus Helmrich, member of the managing board of Siemens. “Mendix is a leader in the rapidly expanding low-code segment and their platform will help our customers to adopt MindSphere even faster by accelerating cloud-based application development for the Industrial Internet of Things (IIoT)."
“As part of our digitalization strategy, Siemens continues to invest in software offerings for the Digital Enterprise. With the acquisition of Mendix, Siemens continues to add to its comprehensive Digital Enterprise and MindSphere IoT portfolio, with cloud domain expertise, cloud agnostic platform solutions and highly skilled people,” said Jan Mrosik, CEO of the Digital Factory division.
Mendix was founded in 2005 in Rotterdam, Netherlands and is headquartered in Boston, Massachusetts. The company has over 400 employees and its software-as- a-service business model results in over 90 percent of sales being recurring. According to Siemens, it expects Mendix to continue to experience strong growth in the future in both its existing customer segments and across the Siemens customer base.
“When we pioneered the low-code market over a decade ago, we had a bold vision to help customers change the way they build software, but we never imagined the oceanic opportunity that’s now in front of us,” said Derek Roos, co-founder and CEO of Mendix. “I’m thrilled to accelerate our vision at a much larger scale with the incredible team, assets, industry know-how and footprint of Siemens behind us. Being part of Siemens will allow us to serve our customers even better by accelerating our R&D vision, adding a much larger pool of go-to-market resources, and leveraging an enormous global infrastructure. And we’ll do this while maintaining our unique culture, brand and R&D capability that has allowed us to become the leader in our space – I can’t think of a better outcome for our customers, community, partners and team.”
Closing of the transaction is subject to customary conditions and is expected in the first quarter of fiscal year 2019. Roos will remain CEO of the company and join the Siemens PLM Software senior leadership team.