When Bernd Groß sold his startup Cumulocity to Software AG in 2017 for 49 million euros, it was a classic founder’s dream: exit, international reach, a global company behind him.
Eight years after his exit, however, Groß realized that he had successfully sold his own company – but there was more to it. In 2023, the private equity firm Silverlake took over Software AG – and Groß sensed an opportunity, as he says. “I thought to myself: If Silverlake acquires Software AG, they might be open to a management buyout.”
Turns out: Big was right. At the beginning of 2025 he had his startup back – and went from CTO of Software AG to CEO of Cumulocity again.
Cumulocity is a platform that smartly networks machines, devices and sensors in industry. Keyword: Internet of Things.
Groß says about the management buyout: “It is much easier to set up and start from scratch than to buy out an existing business with lots of customers and contracts.”
Above all, a management buyout requires a lot of persuasion. So why the effort? Why didn’t Groß just start a new business? And: What did it take for him to be able to buy back his startup?
That’s why the founder bought his startup back
For Groß, it was above all the emotional connection to his startup and what had been created in 13 years. Even when Cumulocity was already part of Software AG, employees still wore caps and sweaters with the Cumulocity logo – startup spirit in the group.
