May 2026
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Largest Horizontal SaaS Public Companies in Germany
Benchmark revenue and EBITDA valuation multiples for public comps like
SAP, Nemetschek, United Internet, IONOS Group and ATOSS Software.
 | Founded in Germany in 1972 by former IBM employees, SAP is the world’s largest provider of enterprise application software. Known as the leader in enterprise resource planning software, SAP’s portfolio also includes software for supply chain management, procurement, travel and expense management, and customer relationship management, among others. The company operates in more than 180 countries and has more than 400,000 customers, approximately 80% of which are small to medium-size enterprises. | $181 | -39% | $211B | $209B | 4.8x | 14.8x | ||
| Nemetschek is a German company that makes software products for the architecture, engineering, and construction industry, mainly, but also for the media and entertainment industry. Its software solutions cover the entire life cycle of building and infrastructure projects (design, build, and manage). In media and entertainment, it is one of the world’s leading providers of software for the creation of 3D animation and visual effects in movies, TV shows, and gaming. | $72 | -49% | $8B | $8B | 6.0x | 19.2x | ||
| United Internet AG is a telecommunications provider that operates through two business divisions: Access and Applications, which in turn are divided into the segments Consumer Access and Business Access and Consumer Applications and Business Applications. The Consumer Access segment which generates the majority of the revenue for the company comprises mobile internet products as well as landline-based broadband products (including the respective applications, such as home networks, online storage, telephony, Smart Home, IPTV, and video-on-demand). The company also provides a wide range of telecommunication products and services to companies and local authorities. | $31 | +13% | $5B | $9B | 1.3x | 5.9x | ||
| IONOS Group SE is an international digitalization partner and cloud enabler for small and medium-sized enterprises (SMEs), as well as for individual users and larger corporate customers. It offers a comprehensive product portfolio in the areas of web presence and productivity, as well as cloud solutions, which is further supported by customer care and infrastructure. In addition, IONOS offers an online marketplace for buying, selling, and parking domains. The company's operating segments include Digital Solutions & Cloud and AdTech. Key revenue is derived from the Digital Solutions & Cloud segment, which offers its customers customized server products and other solutions to set up an online presence and maintain their IT infrastructure. Geographically, it derives key revenue from Germany. | $33 | -28% | $4B | $5B | 2.9x | 11.0x | ||
| ATOSS Software SE supplies technical and consulting solutions for professional workforce management and demand-driven workforce deployment. From conventional working time management to mobile apps, detailed workforce forecasting, sophisticated workforce scheduling, or strategic capacity and demand schedules, the company offers its customers various solutions in the cloud or on-premises. It generates sales revenue from licensing software products to end-users or to resellers, from cloud subscriptions, maintenance contracts, consulting services, the sale of hardware as well as from providing other goods and services. | $90 | -45% | $1B | $1B | 5.7x | 14.4x | ||
| TeamViewer is a German software company specializing in remote connectivity solutions. Its products enable secure remote access, control, management, and support to any device. Common use cases include remote IT support, after-sales service, and vision picking. The company’s offerings extend to the Internet of Things and augmented reality. TeamViewer customers are mainly small and medium-size businesses, but it also has a growing number of enterprise customers. | $7 | -38% | $1B | $2B | 2.3x | 5.5x | ||
| Innoscripta SE is a software company specializing in cloud-based compliance software for research and development. It provides R&D tax incentives consulting. | $101 | -11% | $1B | $939M | 7.6x | 12.3x | ||
| CANCOM SE is a hybrid IT service provider. The group's range of IT solutions includes consulting, implementation, services and the operation of IT systems. As a hybrid IT integrator and service provider, the company delivers a range of services and solutions that includes business solutions and managed services such as cloud computing, analytics, enterprise mobility, IT security, hosting or as-a-service offerings. In geographical terms, the company operates in Germany, Austria as well as Switzerland, Romania and Belgium. | $33 | +2% | $947M | $775M | 0.4x | 5.5x | ||
| Mensch und Maschine Software SE is a Germany-based company engaged in the provision of Computer-Aided Design (CAD), Computer-Aided Manufacturing (CAM), Computer-Aided Engineering (CAE), product data Management, and Building Information Management solutions. The company's business model is based on two segments: M+M Digitization business and M+M software. The M+M Digitization segment developed tailor-made software solutions for customers in D/A/CH and other European countries. The M+M software segment develops standard software for CAD/CAM, BIM/Engineering, Garden/ Landscaping, and CAE. The majority of the company's revenue is generated from the M+M Digitization segment. | $45 | -28% | $727M | $766M | 2.8x | 11.0x | ||
| Datagroup SE is a Germany-based company. The company business activities include the operation of IT infrastructures, distribution, provision of IT services, technology consulting and the development of IT solutions. Its operating segments include Services and Solutions and Consulting. The company generates maximum revenue from the Services segment. The services segment mainly provides IT services. Geographically, it derives a majority of revenue from Germany. | $86 | +25% | $717M | $933M | - | - | ||
| Nagarro SE is a digital engineering company. The company offers digital product engineering, artificial intelligence and machine learning, cloud solutions, digital marketing, managed services, and others. The company's geographical segment includes North America, Central Europe, Rest of Europe, and Rest of World. | $47 | -33% | $583M | $876M | 0.8x | 5.5x | ||
| EQS Group AG is an international cloud software provider in Corporate Compliance, Investor relations, and ESG. It operates in two segments Compliance and Investor Relations. The Compliance segment encompasses the products required for companies to fulfill their legal and regulatory obligations including reporting obligations in the news segment, submissions to the Federal Gazette, and new products such as Insider Manager, Integrity Line, LEI, and ARIVA Workflows. Its Investor Relations segment includes products for financial and corporate communications, including news, websites, portals, webcasts, and media as well as the new investors and CRM modules in the COCKPIT. It derives a majority of its revenue from the Compliance segment within Germany. | $46 | -- | $460M | $451M | 5.6x | 122.9x | ||
| Easy Software AG is a developer and provider of software solutions for electronic document management and enterprise content management. It provides solutions for revision-proof document and data archiving for all relevant documents and records. | $24 | +18% | $179M | $168M | 2.3x | 11.0x | ||
| Platform Group AG is a dominant platform group in Europe and uses high-quality software solutions to connect partners with eCommerce. The company operates with software-based platform solutions that can be used universally in almost all sectors and industries. The company's operating segments include Consumer Goods, Freight Goods, Industrial Goods, and Service & Retail Goods. The company generates the majority of its revenue from the Consumer Goods segment. Geographically, the company generates the majority of its revenue from Germany, Austria, Switzerland and the Netherlands. | -- | -- | $135M | $272M | - | - | ||
| Serviceware SE is a provider of software solutions that help companies compete digitally with Enterprise Service Management (ESM) by improving service quality and efficiently managing service costs. Serviceware platform which includes software solutions for financial, processes, resources, knowledge, and performance. All solutions can be integrated, but can also be used independently of each other. In addition, the company offers the infrastructure solutions and managed services necessary for operations securely and reliably. | $13 | -39% | $133M | $107M | 0.9x | 24.2x | ||
| Audius SE is a medium-sized information technology and software company. | $16 | +23% | $78M | $67M | 0.5x | 6.4x | ||
| Exasol AG is a technology company providing a next-generation in-memory analytical database that enables customers to access and analyse data at high speed and scale. The company's technology is used in a wide range of analytical use cases for financial reporting, data visualisation and predictive analytics. | $3 | -13% | $75M | $52M | 1.1x | 9.9x | ||
| ad pepper media International NV is in the business of advertising and marketing sector. The company's segment includes Ad pepper media, Ad Agents, and Webgains. The ad pepper media segment specializes in lead generation. The ad agents segment design, control and optimize results-oriented marketing and sales solutions in all digital channels. In addition, it also specializes in search engine marketing, search engine optimization, affiliate management, social media advertising, and performance display and product data management. The web gains segment offers solutions to all of its affiliate management. The company operates in geographical areas which include the United Kingdom, Germany, Spain, the USA, and others. | $3 | -5% | $75M | $42M | 0.4x | 4.9x | ||
| Cyan AG is a provider of intelligent IT security solutions and telecommunication services in the IT industry. The main business of the company involves cybersecurity solutions for the end customers of mobile and fixed-line internet providers (MNO, ISP), financial service providers, mobile virtual network operators (MVNO) as well as the convergent BSS/OSS platform (Business Support System and Operations Support System) as a mobile virtual network enabler (MVNE). With the BSS/OSS business, services such as connection to the network operator, billing, provisioning, and similar services relating to the operational aspects of running an MVNO are offered. The company has two segments: Cybersecurity, and BSS/OSS platform. Its products include a Seamless BSS/OSS Platform. | $2 | -20% | $54M | $52M | 6.3x | (30.6x) | ||
| OTRS AG is engaged in open-source software solutions. The service portfolio includes process design, implementation, customizations, application support, corporate security, and managed OTRS services. The company generates maximum revenue from IT Services and support. Geographically, it derives a majority of its revenue from Germany. | $22 | +1% | $42M | $39M | 2.8x | (213.5x) | ||
| Yoc AG is a service provider active in the field of mobile media. The company offers technology-based services, such as mobile marketing, digital advertising, and online media services. It operates through National and International segments. Its products include YOC Inline Video Ad; YOC Understitial Ad; YOC Mystery Ad; YOC Mystery Scroller; YOC Ads Plus; and YOC Branded Takeover. The majority of the revenue comes from the National segment. | $8 | -58% | $28M | $26M | 0.6x | 9.2x | ||
| Intershop Communications AG is a provider of omnichannel commerce solutions. It offers packaged software for internet sales. The company also acts as a business process outsourcing provider. Its services include professional services, full-service e-commerce, and training. The business of the company operates through geographical segments that include Asia-Pacific, Europe, and the United States of America. Its Europe segment generates maximum revenue for the company. Intershop’s business activities are divided into the two main business segments Software and Cloud and Service. | $1 | -34% | $24M | $22M | 0.5x | 28.4x | ||
| Binect AG is a German management holding company. Along with its subsidiaries, it is engaged in the digitization of document-based business communication. The group digitizes all processes of document incoming and outgoing communication, such as contracts and invoices, with its solutions and the Binect ONE platform. Binect is also focused on venturing into the field of Intelligent Document Processing (IDP), which involves, among other things, using self-learning software components to process document content and transform it into digitally usable and processable data. The group develops and integrates its digital modules and solutions for medium-sized businesses, government agencies, and other institutions. | $2 | -28% | $5M | $3M | 0.1x | 3.7x | ||
| Performance One AG, operating under the Performance One brand, offers a comprehensive package for digital transformation and strategy in marketing and sales. It is a consulting and implementation company that creates, orchestrates, and designs digital experiences and products for brands, businesses, and individuals. Strategy, Digital Marketing, and Data Analytics are the group's core service areas. | $2 | -11% | $3M | $5M | - | - | ||
| Median | $24 | -24% | $320M | $361M | 2.3x | 9.9x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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