News Update
IBM to Acquire Software AG’s Enterprise Technology Division for $2.3 Billion
-
ByStartupStory | December 18, 2023
IBM has revealed its plan to acquire Software AG’s enterprise integration platforms for 2.13 billion euros ($2.33 billion) to enhance its artificial intelligence and hybrid cloud offerings.
The acquisition, to be completed with IBM’s available cash, targets Software AG’s StreamSets and webMethods platforms, constituting the “Super Ipaas” business unveiled in October.
“The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling,” expressed Christian Lucas, chairman of the supervisory board of Software AG.
These platforms, known for their application integration, API management, and data integration capabilities, will potentially bolster IBM’s portfolio significantly.
Software AG, largely owned by Silver Lake, currently sees the private equity firm holding 93.3% of its shares after a months-long takeover pursuit valuing the entire business at 2.6 billion euros ($2.84 billion).
The transaction, contingent on regulatory approvals, is slated for completion in the second quarter of 2024. Simultaneously, Silver Lake has announced its delisting offer for Software AG at 32 euros ($34.96) per share, following its recent takeover move.
Also Read
-
-
Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
Follow Startup Story
