EXIT: Karma Ventures makes its third exit as SAP has acquired their portfolio company AppGyver

11 February 2021
EstVCA member Karma Ventures has just announced their third exit as SAP has acquired their portfolio company AppGyver.

AppGyver Oy, a pioneer in no-code development platforms that enable users with no coding skills to build applications for Web and mobile uses.

With the acquisition, SAP is better able to help customers and partners adapt their IT systems efficiently to their specific needs and optimize the usability of their applications. AppGyver’s solutions will become part of SAP Business Technology Platform. They will broaden SAP’s offering in the area of business process intelligence and be a complementary addition to SAP’s low-code offering provided by partner Mendix Tech BV, part of the Siemens AG.

“AppGyver helps us expand our no-code capabilities and establish a comprehensive offering in this area,” said Michael Weingartner, president, SAP Business Technology Platform Core, SAP. “Going forward, we can deliver a full range of simple and integrated application development tools that allow customers, partners and our own teams to enhance process automation and further improve the experience for users of SAP applications. By adding AppGyver’s solutions to our own no-code capabilities, we facilitate the creation of workflows, forms, robotic process automation and lightweight case management.”

The acquisition broadens SAP’s new offering, the RISE with SAP package, of which SAP Business Technology Platform and business process intelligence are key parts. The new offering helps companies perform holistic business transformations that make them resilient, agile and intelligent.

SAP and AppGyver agreed not to disclose the purchase price or other financial details of the transaction.

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