October 2026
Largest Horizontal SaaS Public Companies in Germany
Benchmark revenue and EBITDA valuation multiples for public comps like
SAP, Nemetschek, IONOS Group, United Internet 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. | $226 | -13% | $261B | $260B | 6.3x | 19.9x | ||
| 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. | $81 | -30% | $9.4B | $9.6B | 7.2x | 22.9x | ||
| 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. | $39 | +9% | $5.2B | $6.1B | 4.1x | 11.9x | ||
| United Internet is a German internet and telecommunications group based in Montabaur. Its operating businesses provide internet access, hosting, online applications, communications services and related digital infrastructure to consumers and commercial customers. The parent company manages group functions including investment management, financial control, risk management and corporate administration. Its commercial model combines recurring subscriptions and service fees across its operating subsidiaries. In 2013, important operating businesses included 1&1 Internet, mail and media activities, hosting providers and Sedo’s online services. The group also held minority investments in technology and internet companies through dedicated subsidiaries. United Internet acquired an indirect 25.1% interest in Versatel in 2012 and agreed to buy the remaining 74.9% from KKR in 2014. That acquisition added a substantial German fibre network to the group and increased the infrastructure available for its telecommunications services. | $27 | -13% | $4.6B | $9.3B | 1.3x | 6.3x | ||
| 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. | $100 | -25% | $1.6B | $1.5B | 6.9x | 17.9x | ||
| 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. | $8 | +7% | $1.2B | $2.2B | 2.6x | 7.3x | ||
| 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. | $90 | +60% | $1.1B | $1.4B | 1.2x | 10.5x | ||
| 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. | $25 | -12% | $726M | $727M | 0.4x | 6.3x | ||
| 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 | +16% | $717M | $907M | 1.4x | 9.7x | ||
| 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. | $39 | -19% | $654M | $707M | 2.6x | 10.7x | ||
| innoscripta SE is a software company specializing in cloud-based compliance software for research and development. The company provides R&D tax incentives consulting. | $48 | -65% | $478M | $458M | 3.9x | 6.4x | ||
| 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. | $22 | +4% | $164M | $153M | 2.2x | 11.1x | ||
| 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. The company's platform which includes software solutions for financial, processes, resources, knowledge, and performance. In addition, the company offers the infrastructure solutions and managed services necessary for operations securely and reliably. | $14 | -33% | $151M | $124M | 1.0x | 21.7x | ||
| USU Software AG along with its subsidiaries provides IT and knowledge management software. The company organizes its operations into two main segments: Product Business and Service Business. The Product Business segment includes infrastructure management, service/change management, finance management, process management, and knowledge management. The Service Business segment encompasses consulting services for IT projects and individual application development. It derives the majority of its revenue from the Product Business segment. Its customers are based in Germany and operate in the fields of financial services, telecommunications, the automotive industry, consumer goods, services, and trade, as well as the public sector. | $10 | -3% | $101M | $101M | 1.8x | 23.9x | ||
| 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 | +0% | $74M | $60M | 0.5x | 12.4x | ||
| 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. | $2 | -44% | $53M | $29M | ||||
| Audius SE is a medium-sized information technology and software company. | $11 | -25% | $52M | $50M | ||||
| 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 | -28% | $46M | $45M | ||||
| 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. | $2 | +19% | $30M | $27M | ||||
| The Platform Group is a Düsseldorf-based listed company that operates specialized online marketplaces and commerce platforms. The group works across numerous verticals, including furniture, luxury goods, machinery, automotive products, dental technology and consumer electronics. It combines marketplace software, sector-specific operating companies and centralized services to connect merchants with consumers and business buyers. The group expands through organic development and acquisitions of profitable niche platforms. Its companies handle marketplace transactions, online retail and related fulfillment or commercial services according to the needs of each vertical. The Platform Group reported €728 million of revenue and €55 million of adjusted EBITDA for 2025. | $1 | -90% | $23M | $176M | ||||
| 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. | $4 | -67% | $16M | $16M | ||||
| 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 | +9% | $6M | $5M | ||||
| 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. | $1 | -14% | $2M | $4M | ||||
| Median | $14 | -13% | $164M | $176M | 1.3x | 10.5x |
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