M&A Deal Summary

Avedon Capital Partners, Verso Capital and Schroders Capital Acquire Cumulocity

On January 20, 2025, growth capital firm Avedon Capital Partners, private equity firm Verso Capital and asset manager Schroders Capital acquired internet software and services company Cumulocity from Software AG

Acquisition Highlights
  • This is Avedon Capital Partners’ 4th, Verso Capital’s 1st and Schroders Capital’s 1st transaction in the Internet Software and Services sector.
  • This is Avedon Capital Partners’ 11th, Verso Capital’s 1st and Schroders Capital’s 1st transaction in Germany.

M&A Deal Summary

Date 2025-01-20
Target Cumulocity
Sector Internet Software and Services
Buyer(s) Avedon Capital Partners
Verso Capital
Schroders Capital
Sellers(s) Software AG
Deal Type Divestiture

Target

Cumulocity

Dusseldorf, Germany
Cumulocity is a developer of an innovative solutions for the Internet of Things (IoT) offering connectivity for networked digital devices and sensors through a cloud-hosted IoT device management and application enablement platform. Cumulocity was founded in 2010 and is based in Dusseldorf, Germany.

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Buyer(S) 3

DESCRIPTION

Avedon Capital Partners is a private investment firm focused on minority and majority growth investments in the Benelux and Germany. Avedon pursues rapidly growing companies that have reached an inflection point where a growth equity investment can create significant value. The Firm looks to invest €5 to €30 in companies valued up to €150 million. Investment proceeds are generally used to fund key growth initiatives or shareholder liquidity. Avedon Capital Partners was formed in 2011 and is based in Amsterdam.


DEAL STATS #
Overall 34 of 34
Sector (Internet Software and Services) 4 of 4
Type (Divestiture) 1 of 1
Country (Germany) 11 of 11
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-28 Waste Vision

Hengelo, Netherlands

Waste Vision engages in production, maintenance and technology of smart waste systems. Waste Vision has equipped some 18,000 containers with software and electronic technologies. Waste Vision is based in Hengelo, Netherlands.

Sell -
Buyer

Verso Capital


Category Private Equity Firm
Founded 2012
PE ASSETS 160M EUR
Size Small
Type Sector Focused
DESCRIPTION


DEAL STATS #
Overall 2 of 2
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Germany) 1 of 1
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 Joyweek

Stockholm, Sweden

Joyweek is a provider of facility management services intended to serve corporations. Joyweek was formed in 1993 and is headquartered in Stockholm, Sweden.

Buy -
Buyer
DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Germany) 1 of 1
Year (2025) 1 of 1

Seller(S) 1

SELLER

Software AG

Darmstadt, Germany

Category Company
Founded 1969
Sector Software
Employees4,707
Revenue 958M EUR (2022)
DESCRIPTION
Software AG office in Dubai, United Arab Emirates.
Software AG office in Dubai, United Arab Emirates.

Software AG is a provider of infrastructure software. The Company conducts its operations through two business divisions: enterprise transaction systems and webmethods. Software AG was founded in 1969 and is based in Darmstadt, Germany.


DEAL STATS #
Overall 4 of 4
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 4 of 4
Country (Germany) 1 of 1
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-18 TrendMiner

Hasselt, Belgium

TrendMiner is an industrial analytics company providing visual data analytics for manufacturing and processing industries. The company software is based on a high-performance analytics engine for processing data captured in time series. TrendMiner was founded in 2008 and is based in Hasselt, Belgium.

Sell -