Roper acquired Foundry.
The Animation and VFX (Visual Effects) software and hardware industry is growing by leaps and bounds. We are witnessing major acquisitions and mergers in the industry on continuous basis. Listing of some of the recent and major acquisitions and mergers are as follows.
- Adobe acquires Allegorithmic
- Google and Sony Pictures Imageworks are merging their technical resources develop OpenCue – open source Animation and VFX render management
- Adobe acquired Marketo
- Method Studios Acquired Atomic Fiction
- Cinesite acquired Trixter
In the recent news, Roper acquired Foundry.
In May 2015, London based leading company in the niche market of VFX softwares, Foundry was acquired by HG Capital (By that time, the visual effects software company was titled as ‘The Foundry’). In 2019, as per the official news on respective websites, Sarasota, Florida, based Roper Technologies acquired Foundry. The acquisition of Foundry by Roper Technologies is priced at £410 million (around $545 Million USD).
The ownership of Foundry will be transferred from HG Capital to Roper Technologies, but Foundry will work as an independent software company. There will be no change in branding or naming conventions. Craig Rodgerson, Foundry CEO, will continue his position and operations. Craig said in the official press report: “We’re excited about the opportunities this partnership brings. Roper understands our strategy and chose to invest in us to help us realize our ambitious growth plans. This move will enable us to continue investing in what really matters to our customers: continued product improvement, R&D and technology innovation, and partnerships with global leaders in the industry.”
Neil Hunn, Roper Technologies President and CEO, said: “Foundry has become the industry standard in an attractive niche market by maintaining a commitment to serve the complex needs of its customers. Combined with an impressive management team and attractive financial profile, these characteristics make Foundry a great fit for Roper. We look forward to supporting Foundry’s long-term growth as the team continues to develop differentiated, superior solutions for its current and future customers.”
The acquisition of Foundry by Roper Technologies will get close in April 2019. It will be all cash transaction. Roper Technologies is positive to gain $75 million revenue in the first year of operation after this acquisition.