Digital Enterprise
Siemens takes over Mendix
Siemens is buying the company Mendix for 600 million euros, thereby expanding its Digital Enterprise division. The US company is active in the field of cloud-based low-code programming platforms.
Mendix will be part of the software business of Siemens ' Digital Factory (DF) division, although its platform technology will also be used in several other divisions. The low-code platforms offered by Mendix provide various options for the rapid development, use and execution of applications in the cloud.
"With the acquisition of Mendix, we are expanding our leadership position in the Digital Enterprise, a cornerstone of our Vision 2020+ strategy program," said Klaus Helmrich, member of the Managing Board of Siemens AG. Mendix will help Siemens customers to adopt 'MindSphere' faster and accelerate the cloud-based development of apps for the Industrial Internet of Things.
Mendix was founded in 2005 in Rotterdam, the Netherlands, and is headquartered in Boston, Massachusetts. The company employs over 400 people. Its Software-as-a-Service business model contributes to more than 90% of its recurring revenue. Siemens expects Mendix to continue its strong growth in the future, both in its existing customer segments and within Siemens' customer base.
The transaction is subject to customary closing conditions and is expected to close in the first quarter of fiscal 2019. Siemens expects synergies through a combination of revenue growth and anticipated margin expansion of more than EUR 500 million net. In addition, this transaction is expected to be accretive to earnings within four years of closing. Derek Roos will remain CEO of the company and become a member of the Siemens PLM (Product Lifecycle Management) management team.
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