Roper Technology has announced it has acquired media and entertainment software developer Foundry in an all-cash transaction worth £410 million.
The deal is expected to close in April 2019. Roper said Foundry will remain an independent company.
Foundry develops creative software for the digital design, media and entertainment industries and counts the likes of Pixar, MPC, Walt Disney Animation, Weta Digital, DNEG, and Framestore among its customers. Its products include Nuke, Hiero, Katana and Flix.
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 realise 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, added: “Foundry brings over two decades worth of experience in the digital visualisation industry and a strong core management team, and this is what excited us about this partnership.”