SAP buys software management company LeanIX

STOCKHOLM (Reuters) – German business software maker SAP announced on Thursday its acquisition of software management company LeanIX. The move is aimed at strengthening SAP’s business transformation portfolio.

LeanIX is currently backed by several investors, including Insight Partners, Deutsche Telekom Capital Partners, Capnamic Ventures, Iris Capital, Goldman Sachs, and Dawn Capital.

The acquisition is set to be finalized in the fourth quarter, although exact terms of the deal have not been disclosed.

By Supantha Mukherjee in Stockholm.

Edited by Terje Solsvik.