Summary
- Siemens will acquire Mendix for $700 million in an all cash deal.
- Mendix provides low-code software for businesses to connect their systems to Internet of Things processes.
- The deal is a strategic move by Siemens to make it easier for developers to build applications on its MindSphere IIoT platform.
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Quick Take
Siemens (OTCPK:SIEGY) has announced it has agreed to acquire Mendix for $700 million.
Mendix has developed low-code solutions for app galleries, insurance, financial services, education, logistics, and manufacturing.
SIEGY is acquiring Mendix to make it easier for developers to create applications for its MindSphere industrial Internet of Things (IIoT) platform.
The deal may take several years to bear fruit but is a strategic move by Siemens to bolster its IoT platform.
