London, 19 March 2019:
Foundry, the leading developer of software for the media, entertainment and digital design industries, today announces that it will be acquired by Roper Technologies, Inc, a diversified technology company and a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. The transaction is expected to close in April 2019, subject to regulatory approval and customary closing conditions.
It’s a substantial move that enables Foundry to remain an independent company, with Roper assuming ownership from Hg. Roper has a successful history of acquiring well-run technology companies in niche markets that have strong, sustainable growth potential. Foundry’s track record of profitable growth and leading position within its core markets make it an excellent fit for Roper’s long-term strategy.
Craig Rodgerson, Foundry’s CEO, said: “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’s CEO, said: “Foundry brings over two decades worth of experience in the digital visualization industry and a strong core management team, and this is what excited us about this partnership.”
Nic Humphries, Senior Partner at Hg, said: “Foundry is a business with a history of growth and innovation. Hg has built on the company’s strong development capabilities to drive enterprise adoption of the digital design offering and pioneer revolutionary new products such as Athera. We’ve enjoyed working with the team over the last four years and wish the team well as they continue their growth journey as part of Roper Technologies.”
About Foundry
Foundry develops creative software for the digital design, media and entertainment industries. With a 20-year heritage and a portfolio of award-winning products, Foundry advances the art and technology of visual experience in partnership with creative leaders around the globe.
Clients and partners include major feature film studios and post-production houses such as Pixar, ILM, MPC, Walt Disney Animation, Weta Digital, DNEG, and Framestore as well as automotive, footwear, apparel and technology companies such as Mercedes, New Balance, Adidas and Google. Foundry partners with these companies to solve complex visualization challenges to turn incredible ideas into reality.
The company’s products are used to create breathtaking visual effects sequences on a wide range of feature films, video-on-demand, television and commercials. Foundry software was integral in the making of every VFX Oscar-winning film, award-winning TV show and commercial for more than a decade.
Founded in 1996, Foundry is headquartered in London, with 300 staff and a presence in the US, China, Japan, Australia and Europe. In 2015, the London Stock Exchange named Foundry one of the “1000 Companies to Inspire Britain.” It regularly features in The Sunday Times’ Tech Track as one of Britain’s fastest-growing private technology companies.
For more information visit www.foundry.com.
© Foundry, its logo and product names are registered trademarks in the UK, USA and/or other countries.
About Roper Technologies
Roper Technologies is a constituent of the S&P 500, Fortune 1000 and the Russell 1000 indices. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Additional information about Roper is available on the company’s website at
www.ropertech.com.
Contact:
Madalina Grigorie, PR and Communications Manager, Foundry
+44 (0) 20 3976 1826 (ext. 2421)
+44 (0)738 7059 069
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