Plex Systems Acquisition, Valuation, Funding & Investors

Plex Systems was acquired by Rockwell Automation for $2.2B in June 2021, a 22.4x multiple on $98M of revenue.

Plex Systems acquisition price

$2.2B

Acquired by Rockwell Automation · Jun 2021

Plex Systems revenue at acquisition

$98M

Last twelve months · Jun 2021

Plex Systems revenue multiple at acquisition

22.4x

EV/Revenue · Jun 2021

Cumulative funding Plex Systems raised

$150M

across 2 funding rounds

Plex Systems Overview

About Plex Systems

Plex Systems is an Atlanta-headquartered cloud platform for smart manufacturing with ERP, MES, and IoT modules. Discrete manufacturers track production on shop floors using real-time dashboards integrated with Siemens PLCs and Fanuc robots. Plex serves automotive suppliers like Toyota with supply chain planning and quality analytics from its AWS-hosted infrastructure.


Founded

1995

HQ

United StatesDetroit, MI

Website

plex.com

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$98M (Jun 2021)

Valuation

$500M (Jun 2014)

Plex Systems Acquisition

Plex Systems was acquired by Rockwell Automation for $2.2B on 25 June 2021.

The acquisition price implies a 22.4x revenue multiple on $98M of revenue.

Before the acquisition Plex Systems had raised $150M across 2 funding rounds.

Plex Systems acquisition details
AcquirerDateTypePriceEV/Revenue
25 Jun 2021Strategic M&A$2.2B22.4x

Plex Systems Valuation

Plex Systems is currently valued at $500M, based on its undisclosed-stage round in June 2014.

The $50M round was led by T. Rowe Price, with participation from Accel.

Plex Systems valuation by funding round

Plex Systems valuation by funding round
DateStageValuation
Jun 2014Undisclosed stage$500M

Plex Systems Funding History

Plex Systems has raised a total of $150M across 2 funding rounds.

Plex Systems' first fundraising round was a $50M undisclosed-stage round in June 2014. The most recent completed round was a $100M undisclosed-stage round in May 2020.

Plex Systems funding rounds

Plex Systems funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2020Undisclosed stageFrancisco Partners$100M-Plex Systems is a cloud-native smart manufacturing platform offering ERP, MES, quality management, supply chain, and analytics for manufacturers, connecting shop floor to top floor operations. Francisco Partners acquired Plex Systems prior to 2014, as referenced in later announcements. In June 2014, Plex raised $50 million led by T. Rowe Price, with participation from Accel Partners and existing investor Francisco Partners, to invest in sales, marketing, and R&D. In 2021, Francisco Partners sold Plex Systems to Rockwell Automation for $2.22 billion in cash. Under Francisco Partners' ownership, Plex more than quintupled its subscription revenue, grew to over 700 customers across 37 countries, and managed over 8 billion transactions daily. The sale highlighted Plex's leadership in smart manufacturing with its single-instance, multi-tenant SaaS platform launched over two decades prior. Plex continued transitioning manufacturing to cloud solutions with investors like Accel Partners in prior rounds.
Jun 2014Undisclosed stageT. Rowe Price (lead); Accel$50M$500MPlex Systems is a Troy, Michigan-based provider of cloud-based ERP and manufacturing execution software (MES) tailored for manufacturing enterprises, offering the Plex Manufacturing Cloud and Smart Manufacturing Platform to support operations from beverages to diesel engines. The company, founded in 1995, secured a $50 million funding round on June 10, 2014, led by T. Rowe Price Associates with participation from existing investor Accel Partners. Proceeds were allocated to accelerate sales and marketing efforts alongside research and development to expand its market-leading product portfolio and go-to-market capacity. This round underscored Plex's established leadership in cloud ERP for manufacturing, as highlighted by investors including T. Rowe Price analyst Tom Watson, who praised its agile platform, strong management, and customer satisfaction. Accel Partners' Sameer Gandhi noted Plex's industry-leading product, happy customers, and growth prospects. The valuation at the time was $500 million, with prior investments including Francisco Partners' 2012 acquisition from Apax Partners and Accel's $30 million investment that year. Pacific Crest Securities advised on the financing. Plex demonstrated consistent traction historically, reporting 30.6% revenue growth in Q1 2012 with recurring revenue up 30.5% for 19 straight quarters. The company competed in the ERP space, recognized by Aberdeen Group in 2009 as a top performer among vendors like SAP. Total funding reached $186.5 million before its 2021 acquisition by Rockwell Automation for $2.22 billion, where 2020 sales exceeded $150 million at a 14.6x multiple, reflecting later scale.

Who has invested in Plex Systems?

3 investors have backed Plex Systems across its funding rounds, including Accel, T. Rowe Price and Francisco Partners.

Lead investors include T. Rowe Price.


Plex Systems Investors

Investors in Plex Systems by funding rounds participated
InvestorHQRoundsRoleFirst check
T. Rowe PriceUnited StatesBaltimore, MD1LeadJun 2014

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Acquisitions by Plex Systems

Plex Systems has acquired 3 companies to date.

Last acquisition by Plex Systems was on February 24th 2021. Plex Systems acquired Kors Engineering for undisclosed valuation.


Latest Acquisitions by Plex Systems

Kors Engineering
DATTUS
DemandCaster
Description
Kors Engineering is a Houston-based consultancy serving industrial manufacturers with process optimization and systems integration services. The firm designs automation solutions for production lines, implements SCADA systems, and enhances business workflows using PLC programming and data analytics. Clients in oil and gas, chemicals, and food processing rely on Kors for compliance with OSHA standards and upgrades to Industry 4.0 technologies.
DATTUS is an Indianapolis-headquartered industrial IoT provider enabling Industry 4.0 transitions with wireless sensor systems for predictive maintenance. Originating from Purdue University, it received the 2016 TechPoint Mira Award for Best New Tech Product. The platform monitors equipment health, operational efficiency, and safety across manufacturing facilities worldwide.
DemandCaster is a cloud-based supply chain planning solution for manufacturers. Partnering with Plex Systems, the platform scales from mid-sized to enterprise operations, enhancing lean processes with demand sensing and MRP capabilities. Headquartered in the United States, DemandCaster deploys multi-tier planning for complex assemblies in automotive and electronics industries, reducing stockouts through collaborative forecasting.
HQ CountryUnited StatesUnited StatesUnited States
HQ City
-
Indianapolis, IN
Chicago, IL
Deal Date24 Feb 202131 Jul 20189 Aug 2016
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Plex Systems Competitors

Plex Systems competitors include listed companies like GuoChuang Software and ServiceTitan, and private ones like XINGYUN GROUP, Smart Fabric, o9 Solutions and Motive.

Public and private companies comparable to Plex Systems
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GuoChuang SoftwareChinaChinaPublicly listed$220M($17M)$960M-
XINGYUN GROUPChinaShenzhenPrivate--$2B-
Smart FabricChinaShenzhenPrivate--$2.5B-
o9 SolutionsUnited StatesDallas, TXPrivate--$3.7B-
MotiveUnited StatesSan Francisco, CAPrivate$600M-$1.2B-
ServiceTitanUnited StatesUnited StatesPublicly listed$961M($86M)$5.2B4.5x

Plex Systems Public Comps

Plex Systems is no longer listed, but its public comps include Glodon Co, Proto Labs, Xiamen Xiangyu Co, GigaCloud Technology, Harbin Boshi Automation, KPIT Technologies, Inesa Intelligent Tech, SPS Commerce, Freee and Digiwin.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Glodon Co$909M$141M1.8x1.8x11.4x9.8x
Proto Labs$533M$65M3.6x3.4x29.6x21.3x
Xiamen Xiangyu Co$61B$523M0.1x0.1x13.8x10.4x
GigaCloud Technology$1.3B$158M1.6x1.4x12.8x10.6x
Harbin Boshi Automation$422M$106M3.5x3.5x14.0x11.4x
KPIT Technologies$673M$128M2.3x2.2x11.8x11.3x
Inesa Intelligent Tech$947M$41M2.9x3.0x67.3x-
SPS Commerce$752M$182M3.6x3.5x15.0x10.6x

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Common questions about Plex Systems

When was Plex Systems founded?Plex Systems was founded in 1995.
Where is Plex Systems headquartered?Plex Systems is headquartered in Detroit, MI, United States.
Is Plex Systems publicly listed?No, Plex Systems was acquired by Rockwell Automation in June 2021.
Who acquired Plex Systems?Plex Systems was acquired by Rockwell Automation in June 2021.
How much was Plex Systems acquired for?Plex Systems was acquired for $2.2B in June 2021, a 22.4x revenue multiple.
What is Plex Systems' valuation?Plex Systems was last valued at $500M in its undisclosed-stage round in June 2014.
How much funding has Plex Systems raised?Plex Systems has raised $150M across 2 funding rounds.
What was Plex Systems' last funding round?Plex Systems' last funding round was a $100M undisclosed-stage round in May 2020.
Who are Plex Systems' investors?Plex Systems' investors include T. Rowe Price, Francisco Partners and Accel.
Which companies are comparable to Plex Systems?Companies comparable to Plex Systems include GuoChuang Software, XINGYUN GROUP, Smart Fabric, o9 Solutions, Motive and ServiceTitan.
How many companies has Plex Systems acquired?Plex Systems has acquired 3 companies, including Kors Engineering, DATTUS and DemandCaster.

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