US-based analytics software company Tealeaf, the first spin-off from Germany-based technology company SAP and a portfolio company of SAP Ventures, has sold to US-based technology company IBM for an undisclosed sum.
Tealeaf lists venture firms Foundation Capital, Matrix Partners, and Bay Partners as other backers. Tealeaf was founded in 1999 as a spin-off from SAP, and its technology originated in SAP’s labs. Tealeaf was founded by Robert Wenig, SAP’s director of advanced technology, who reported directly to SAP chairman Hasso Plattner