Software AG: Sell-off continues with TrendMiner for 47 million euros
Buyer of the analysis platform TrendMiner is the German provider of analysis technology, Proemion. It is likely not to be the last partial sale by Software AG.
(Bild: Software AG)
Software AG is not resting on its laurels. Four months after selling its most important integration platforms to IBM, the company has now sold TrendMiner. The analysis platform goes to Proemion, a German provider of tools for monitoring and analyzing industrial plants and machines. In mid-2018, Software AG acquired the then independent company TrendMiner NV, which was founded in Belgium in 2008, to expand its portfolio and offerings in the area of IoT.
Compared to the sale of the integration platforms webMethods and Streamsets to IBM, which brought in around 2.13 billion euros in December 2023, the price for the TrendMiner platform is modest: According to Handelsblatt, Proemion, which is backed by financial investor Battery Ventures, is paying 47 million euros.
A perfect fit
On paper at least, the platform suits the new operator. Proemion, a family business based in Fulda, specializes in providing and analysing real-time data from mobile machines and production lines, and Software AG describes TrendMiner as a platform for self-service industrial analytics.
The new owner has already integrated TrendMiner on its site in the "Solutions" menu on its site, alongside its in-house telematics platform.
Less of a surprise
The sale of TrendMiner comes as much less of a surprise than the deal with IBM in December. Shortly after the sale of webMethods and StreamSets at the time, the investor Silver Lake had already prepared TrendMiner and the IoT platform Cumulocity for sale, according to Handelsblatt.
Silver Lake is probably still looking for a buyer for the latter, and it remains unclear how far the break-up of Software AG under Silver Lake will go.
Support, takeover, sell-off
US technology investor Silver Lake initially supported Software AG, which was founded in 1969, with a cash injection in 2021, enabling it to purchase StreamSet, which was later sold to IBM, for around half a billion euros.
In July 2023, three months after the initial takeover bid, Silver Lake finally took over Software AG with a clear majority of shares and began its withdrawal from the stock exchange. Initially, it was said that there would be no significant changes as part of the takeover. Nine months later, it no longer looks like that.
(rme)
