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- Wednesday, Mar. 20, 2019
Roper Technologies to acquire Foundry
Foundry, a developer of software for the media, entertainment and digital design industries, 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 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: “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, sr. 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.”