Symphony Technology Group
Symphony Technology Group remains an American private equity firm built in Palo Alto, California. His managing partner is Bill Chisholm, who co-founded the firm in 2002.
Symphony acquired McGraw-Hill Construction from McGraw-Hill Financial for $320 million on September 22, 2014. The acquisition includes Engineering News-Record, Architectural Record, Dodge, and Sweets. McGraw-Hill Construction renames Dodge Data & Analytics.
On February 17, 2020, Dell Technologies sold its RSA Security business to a group led by STG in an all-cash transaction for $2.075 billion.
In March 2021, Symphony Technology Group acquired McAfee Enterprise for $4 billion. On June 2, 2021, FireEye announced the sale of crucial software technologies to Symphony for $1.2 billion while retaining the services business under the Mandiant name. FireEye bought Mandiant for about the same price. On January 18, 2022, Symphony announced the launch of Trellix, an expanded detection and response company, combining FireEye and McAfee’s enterprise business. On January 5, 2022, EFI spun off its software business and created eProductivity Software, which traded to STG.
In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, drive growth through innovation, retain and attract the best talent and achieve best-in-class business performance. STG’s current portfolio consists of nine global companies.
Is Symphony Technology Group publicly traded?
Symphony Technology Group (STG) is a private equity firm focused on fueling innovative Software, data, and analytics market leaders in the mid-market.
Who acquired Symphony?
HARMAN International Industries
HARMAN acquires Symphony Teleca. To promote HARMAN’s game in the ‘Internet of Things
New York Stock Exchange-listed infotainment company HARMAN International Industries has agreed to acquire India-based software services company Symphony Teleca for at least $780 million.
Symphony Teleca, controlled by Indian-American billionaire Romesh Wadhwani, will strengthen HARMAN’s game in the emerging Internet of Things domain. About 80 per cent of Symphony Teleca’s 8,000 employees are based in India. HARMAN designs, manufactures, and markets audio equipment for automotive, home, theatre and other applications.
“The Internet of Things (IoT) is accelerating technology from experiences, content and commerce and from digital to smart connected systems. Software is driving this evolution and, in turn, software solutions. And services will be key to HARMAN’s constant success.” said Dinesh Paliwal, President and CEO of HARMAN.
The IoT, which refers to everyday devices connected to the Internet, is rapidly emerging as the third, perhaps most important, wave in cyberspace development.
IoT is expected to attach 28 billion devices to the Internet through sensors by 2020. “The acquisition of Symphony Teleca… gives us direct scale in software facilities. With the accumulation of cloud, mobility and analytics capabilities. We will accelerate connected cars and solutions for a broader set of industries and markets. ”
The transaction values Symphony Teleca, best known for providing software services to the mobile communications industry, more than doubling its 2014 revenue to $370 million.
“Symphony has tangible intellectual property in sensor, cloud, analytics, and other technology areas. So I would say HARMAN got a good asset at a low price,” said founder and CEO of advisory firm Greyhound Research. Sanchit Vir Goya said.
What is STG investment?
STG is a private equity partner of essential market companies in Software, data analytics, and software-enabled technology services. The firm brings the experience, flexibility and resources to generate strategic value and unlock the potential of innovative companies.
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building leading software and services companies.
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