HTGF et al. exit Cumulocity in trade sale to Software AG

Cumulocity's involvement with Software AG started in 2015 with a strategic Internet-of-Things partnership. Software AG has similar agreements with Bosch, Octo, Dell and Huawei.

The company says that adding Cumulocity's technology to its service offering will complete its core Internet-of-Things software portfolio.

Previous funding
In February 2013, HTGF and Verso first invested an undisclosed amount in Cumulocity. Verso's fund was backed by Nokia Siemens Networks, which was also the original parent of Cumulocity.

Company
Founded in 2012 and headquartered in Düsseldorf, Cumulocity is a machine-to-machine business that span out from Nokia Siemens Network. The company operates a subscription model where all its products are available to clients for a monthly fee.

People
High-Tech Gründerfonds – Benjamin Erhart (investment director).
HCS Beteiligungsgesellschaft – Hans-Christian Semmler (CEO).
Verso Ventures – Anssi Kariola (managing partner).
Cumulocity – Bernd Gross (CEO).

Advisers
Equity – PwC, Nürnberg, Gerhard Wacker (legal).

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• Topics
• Exits
• DACH
• Technology
• Germany
• Trade sale
• High-Tech Gründerfonds