Explore any business, and you’ll quickly find there are essential pieces of industry-standard software that keep its wheels turning. In the visual effects industry, one of those is the compositing, editorial and finishing tool Nuke.
Nuke is so widely-used that recent rumours that its creators – UK-based The Foundry, which also produces VFX tools Mari and Katana – might be taken over by software giant Adobe, sent ripples of concern through the ranks of VFX artists around the world.
Today, May 20, 2015, those rumours were resolved when The Foundry announced a majority investment from private equity firm HgCapital, who in a deal worth £200 million ($312 million USD) will now take over ownership of the company from The Carlyle Group.
Commenting on the company’s new place within the Technology, Media & Telecommunications (‘TMT’) sector of HgCapital, The Foundry’s CEO Bill Collis said:
“Knowing the direction we plan to take The Foundry, we identified that HgCapital was the ideal partner to build on what The Carlyle Group have helped us achieve. Nic and his team have such deep software experience, take a long term view on investing and have an amazing track record in taking already solid companies to even greater levels of success. HgCapital achieve this through investment, both in R&D and people, with a deep respect for customer loyalty and satisfaction. With this deal, we remain one of the few independent companies solely focused on creative industries. This lets us pursue our best-in-class strategy, prioritizing research and innovation; and teaming with other companies to create powerful collective solutions.”
Nic Humphries, managing partner of HgCapital and the head of the TMT team, added:
“There are so many elements about The Foundry that we find attractive, not the least of which is the core management team. This is a company that constantly innovates, both in terms of their technology, as well as their business. Bill and his team love nothing more than running head on into the challenges facing creative industries, developing exciting disruptive technologies that have huge potential.”
In a tight-lipped but optimistic press release, The Foundry asserts that the HgCapital team shares its “vision to deliver disruptive technologies to creative industries”:
“This will leverage our world-class experience in visual effects, design and games. It continues our leadership in emerging trends around collaborative ideation, the automation of creativity, concurrent marketing and manufacturing, as well as new behaviours in storytelling, media collaboration, creation and consumption, such as VR and AR.”