For years, Software AG has maintained close to $1 billion in annual revenue, but growth has been flat to declining. In 2018, in hopes of breathing fresh life into the reputable software corporation to participate in the great software industrial expansion of the modern ear, the board tapped Sanjay Brahmawar to take the CEO helm. At the time, Sanjay was serving as the General Manager Global Revenue of IBM Watson Internet of Things at Munich, Germany.
Over the last 14 years, Software AG was led by Karl-Heinz Streibich, who established the company’s global digitalization business, and led over 4,600 employees worldwide. Karl was 65 years old and had reached the recommended age limit.
Commenting on Sanjay’s appointing, Streibich stated, "With Sanjay Brahmawar, Software AG is excellently positioned to further expand our strong position as a pioneer of digital transformation and to implement innovative digitalization projects together with our customers, partners and employees,"
At IBM, Sanjay was responsible for global software sales with a focus on data analysis and artificial intelligence. And before that role, he served as General Manager at IBM Consulting Services in London, where he was responsible for the business in the European industrial sector, which included oil and gas, automotive, aerospace, electronics and engineering. Sanjay was born in India and has Belgian nationality.
Recently, the company was pleased to announced its favorable placement on Gartner’s Magic Quadrant for Industrial IoT Platforms.
Chief Product Officer, Dr. Stefan Sigg, Software AG commented, “The Industrial Internet of Things is our primary focus. By placing in the Visionaries quadrant of the Magic Quadrant for industrial IoT platforms, we feel that we prove that our breadth of technologies for successful IoT transformation is going to lead the IoT market. For our customers, the approach of starting small and fast but thinking big and long-term makes it possible to innovate rapidly, while minimizing risk and decreasing time to value."
Sanjay took to twitter to congratulate the team for the achievement. Perhaps this strong focus on Industrial IoT will lead the company out of its persistent flat revenue performance. Software AG completed 2018 with revenue of $865 million, which was slightly down from 2017’s $878 million. Net Income, however, rose to $165 million from $140 million in the prior year. The company currently has a market capitalization of $2.3 billion.
