Insight Partners has agreed to sell scientific software firm Dotmatics to Siemens AG in a $5.1bn deal, marking one of the private equity firm’s largest exits to date in the enterprise software space.

Insight acquired Dotmatics in 2017 and has since scaled the Boston-based company through strategic investments and bolt-on acquisitions. The deal underscores growing appetite from strategic buyers for high-growth software businesses in the life sciences sector, particularly those offering digital R&D and AI-powered solutions.

Dotmatics is expected to generate more than $300m in revenue in 2025, with an adjusted EBITDA margin exceeding 40%.

Siemens will finance the transaction partly through share sales of its listed units, including Siemens Healthineers. The acquisition is expected to expand Siemens’ addressable industrial software market by $11bn. CEO Roland Busch projects $100m in medium-term revenue synergies, rising to over $500m in the long term.

The transaction highlights the strategic value of Insight’s software investments and adds to its strong track record in scaling and exiting digital platforms in high-growth sectors.