The previous speculations that Adobe might become the owner of The Foundry (Carlyle Group) didn’t come true. The Foundry did get a new owner, or to be more specific, a new majority shareholder, and that is HG Capital, a highly prestigious private equity firm from UK. In the press release at thefoundry.co.uk we read:
The Foundry, a leading provider of award-winning creative software, announced a majority investment from HgCapital, one of the UK’s most prestigious private equity firms. Comprising experts from technology and business sectors, HgCapital are perceived as one of the top investors in European software. The Foundry will sit within the Technology, Media & Telecommunications (‘TMT’) sector of HgCapital. Under the terms of the deal, HgCapital will assume majority ownership from The Carlyle Group for an enterprise value of £200 million ($312 million USD).
Looking at what the news release at the thefoudry.co.uk and what their representatives say, The Foundry will benefit from the transaction.
In a text on the topic at fxguide.com Bill Collis, CEO at The Foundry, is quoted:
(…)The great news is that HgCapital tend to grow companies and build them over the long term. (...) HG is not a low cost operator' meaning they are not a company that seeks to buy, bleed money out of a company or cut down or sell parts off in piece.
So, it looks like The Foundry will operate as usual, as what is called ‘Independent Foundry’, pursuing the plans of new creative solutions. As Bill Collis says in the press release:
With this deal, we remain one of the few independent companies solely focused on creative industries. This lets us pursue our best-in-class strategy, prioritizing research and innovation; and teaming with other companies to create powerful collective solutions.
For full press release please follow this link to thefoundry.co.uk, and for the text at fxguide.com, please click here.
Source: http://www.thefoundry.co.uk, http://www.fxguide.com