Foundry gets acquired, this time by Roper Technologies

Foundry is looking forward to the partnership, continued product improvement, and technology innovation.

Foundry has announced that it is getting acquired by Roper Technologies, Inc, a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. The acquisition will be an all-cash transaction of £410 million ($540 million) with transfer of ownership from London-based equity firm HgCapital to Roper Technologies. Roper is a diversified technology company that operates businesses designing and developing software and engineered products and solutions for niche-focused markets. The transaction is expected to close in April 2019.

Foundry was founded in 1996. Since then, it has been acquired a couple of times. Foundry was bought by the owners of Digital Domain in March 2007. In 2011, Foundry was acquired by the Carlyle Group in an equity deal. In September 2012, Foundry merged with Luxology to expand its reach in digital storytelling. Then in May 2015, London-based private equity firm HgCapital paid £200 million ($312 million) to take over majority ownership of Foundry from The Carlyle Group.

Foundry’s CEO Craig Rodgerson

Headquartered in London, Foundry has a presence in the US, China, Japan, Australia, and Europe. The company’s products include Nuke, Hiero, Mari, Katana, Flix, Athera, Modo, and Colorway. Foundry is considering the acquisition a substantial move to remain an independent company. While Roper has been known to acquire good technology companies having strong and sustainable growth potential, Foundry has shown consistent profitable growth within its core markets.

As part of Roper Technologies, Craig Rodgerson, Foundry’s CEO, is hopeful about continued investment in product improvement, R&D and technology innovation, and partnerships with global leaders in the industry.

Neil Hunn, Roper’s President and CEO, said, “Foundry brings over two decades worth of experience in the digital visualization industry andsp a strong core management team, and this is what excited us about this partnership.”

Roper Technologies announced record 2018 financial results in February 2019. CEO Hunn said, “We expect our businesses to continue their solid execution in 2019 benefitting from niche market leadership positions and high levels of recurring revenue. Our strong balance sheet and pipeline of attractive acquisition opportunities position us well to continue compounding cash flow in 2019.”

Roper has seen such attractive acquisition opportunity in Foundry, since Foundry has a strong history of growth in revenue and cash flow. Therefore, Roper is expecting Foundry to deliver approximately US$75 million of revenue in first 12 months of ownership.

Posted in: DCC, News Watch

About the Author:

Ruchika Saini is the Managing Editor of GraphicSpeak. She followed CAD, CAM, and CAE industry for 11 years while working as technical editor at TenLinks.com and Engineering.com.

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