Accel-KKR, the Ontario Teachers' Pension Plan and Alias management announced the completion of the acquisition of Alias from SGI for $57.5 million. Accel-KKR is a technology-focused private equity firm and Teachers' is one of Canada's largest pension plans with net assets of more than $75 billion CDN.
"We are very excited to be moving into our next phase of growth with the backing of two such prestigious organizations," said Doug Walker, president of Alias. "Both Accel-KKR and Teachers' have embraced Alias' vision and mission and we anticipate their backing will help us continue to deliver innovative solutions enabling our customers to create, visualize and communicate the world's most compelling digital visual experiences. Accel-KKR and Teachers' will be solid business partners that will help extend our resources and network of business relationships. Our goal will be to capitalize on the enormous market potential in the 3D software market for both professionals and consumers."
Tom Barnds, managing director of Accel-KKR, commented, "We are pleased to complete this investment and begin working with Alias to execute its business plan as an independent company. We have spoken to a wide range of customers and have consistently heard how much they value Alias' innovative software and services."
Jim Leech, svp, Ontario Teachers' Pension Plan, added, "We are delighted to have the opportunity to invest in Alias, the global leader in 3D graphics software. It is a world-class company with an impressive management team and great potential for growth."
There will be no changes to the management team, organization, services, support or product availability as a result of the sale of the business.
As a leading innovator of 3D graphics technology, Alias (www.alias.com
) develops award-winning software, custom development and training solutions for the film and video, games, Web, interactive media, automotive, industrial design, education and visualization markets. Alias is headquartered in Toronto with a Custom Development Center in Santa Barbara.
Accel-KKR is a technology-focused private equity investment firm founded by venture capital firm Accel Partners and private equity firm Kohlberg Kravis Roberts and Co. Accel-KKR invests primarily in technology companies with between $25 million and $150 million in revenue. Accel-KKR prefers majority ownership positions and investment opportunities in which it can contribute to the creation of long-term shareholder value. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies.