News Quashes Rumors that Adobe Was Looking to Buy the Successful VFX Software Vendor

The Foundry has changed hands, with London private equity firm HgCapital acquiring a majority stake in the company from Washington, D.C.'s Carlyle Group for $312 million.

The move puts an end to speculation that the London-based VFX and design software vendor would be purchased by a software giant such as Adobe, which had been rumored in the London business press to be making a bid for The Foundry.

"With this deal, we remain one of the few independent companies solely focused on creative industries," said The Foundry CEO Bill Collis in a prepared statement. "This lets us pursue our best-in-class strategy, prioritizing research and innovation, and teaming with other companies to create powerful collective solutions."

The Foundry will become part of HgCapital's Technology, Media & Telecommunications group, which is headed by Managing Partner Nic Humphries. "There are so many elements about The Foundry that we find attractive, not the least of which is the core management team," said Humphries in a statement.

The Foundry was purchased by the Carlyle Group in 2011 from previous owner Advent Venture Partners, which had led a management buyout of The Foundry back in 2009. The Foundry started growing aggressively when it acquired Nuke from Digital Domain in 2007.