Symphony Technology Group

Last updated
Symphony Technology Group
Company typePrivate company
Headquarters Menlo Park, California, U.S. [1]
Website www.stg.com

Symphony Technology Group (STG) is an American private equity firm based in Menlo Park, California. [1] Its Managing Partner and Chief Investment Officer is William Chisholm who co-founded the firm with Bryan Taylor and Dr. Romesh Wadhwani in 2002.

Contents

Investments

The company has investments in the following companies: [2]

Acquisitions

STG acquired McGraw-Hill Construction from McGraw-Hill Financial for US$320 million on September 22, 2014. [4] The acquisition includes Engineering News-Record, Architectural Record, Dodge and Sweet's. [5] McGraw-Hill Construction has been renamed Dodge Data & Analytics. [6]

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. [7]

In March 2021, STG acquired McAfee Enterprise for $4 billion. [8] On June 2, 2021, FireEye announced the sale of key software technologies to Symphony for $1.2 billion, while retaining the services business under the Mandiant name. FireEye bought Mandiant for around the same price. [9] On January 18, 2022, Symphony announced the launch of Trellix, an extended detection and response company, which is a combination of FireEye and the McAfee enterprise business. [10] In January 2022, STG announced the McAfee Enterprise security service edge (SSE) business would operate as a separate company to be known as Skyhigh Security. The cloud security company is headquartered in San Jose, California, and led by CEO Gee Rittenhouse. [11]

On January 5, 2022, EFI split off its software business, creating eProductivity Software, which was sold to STG. [12] In March 2023, a private equity consortium led by STG agreed to acquire Momentive Global Inc. in an all-cash deal valued at $1.5 billion. [13]

In June 2023, STG acquired SurveyMonkey, an experience management company, based in San Mateo, California, in an $1.5 billion all-cash transaction. [14] [15]

On July 7, 2023, Wrike announced it was being acquired by STG for an undisclosed amount.

On August 10, 2023, STG announced it was acquiring Avid (a Burlington, Mass.-based company that makes Sibelius, Pro Tools, Media Composer, and other products for the audio, video, and media industries) in a $1.4 billion deal.

Divestments

Related Research Articles

LexisNexis Risk Solutions is a global data and analytics company that provides data and technology services, analytics, predictive insights, and fraud prevention for a wide range of industries. It is headquartered in Alpharetta, Georgia, and has offices throughout the U.S. and in Australia, Brazil, China, France, Hong Kong SAR, India, Ireland, Israel, the Philippines, and the United Kingdom.

<span class="mw-page-title-main">McAfee</span> American global computer security software company

McAfee Corp., formerly known as McAfee Associates, Inc. from 1987 to 1997 and 2004 to 2014, Network Associates Inc. from 1997 to 2004, and Intel Security Group from 2014 to 2017, is an American global computer security software company headquartered in San Jose, California.

<span class="mw-page-title-main">RSA Security</span> American computer security company

RSA Security LLC, formerly RSA Security, Inc. and trade name RSA, is an American computer and network security company with a focus on encryption and encryption standards. RSA was named after the initials of its co-founders, Ron Rivest, Adi Shamir and Leonard Adleman, after whom the RSA public key cryptography algorithm was also named. Among its products is the SecurID authentication token. The BSAFE cryptography libraries were also initially owned by RSA. RSA is known for incorporating backdoors developed by the NSA in its products. It also organizes the annual RSA Conference, an information security conference.

<span class="mw-page-title-main">S&P Global</span> American financial services company

S&P Global Inc. is an American publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of business are financial information and analytics. It is the parent company of S&P Global Ratings, S&P Global Market Intelligence, S&P Global Mobility, S&P Global Engineering Solutions, S&P Global Sustainable1, and S&P Global Commodity Insights, CRISIL, and is the majority owner of the S&P Dow Jones Indices joint venture. "S&P" is a shortening of "Standard and Poor's".

<span class="mw-page-title-main">Motorola Solutions</span> American data communications and telecommunications equipment provider

Motorola Solutions, Inc. is an American video equipment, telecommunications equipment, software, systems and services provider that succeeded Motorola, Inc., following the spinoff of the mobile phone division into Motorola Mobility in 2011. The company is headquartered in Chicago, Illinois.

Oracle Applications comprise the applications software or business software of the Oracle Corporation both in the cloud and on-premises. The term refers to the non-database and non-middleware parts. The suite of applications includes enterprise resource planning, enterprise performance management, supply chain & manufacturing, human capital management, and advertising and customer experience.

Rajiv Gupta is an engineer, a repeat entrepreneur and currently an executive at McAfee.

<i>Architectural Record</i> American monthly magazine

Architectural Record is a US-based monthly magazine dedicated to architecture and interior design. Its editor in chief is Josephine Minutillo. The Record, as it is sometimes colloquially referred to, is widely-recognized as an important historical record of the unfolding debates in architectural practice, history and criticism in the 20th-century United States. The magazine is currently published by BNP Media. Throughout its 133 years in print, Architectural Record has engaged readership among architecture, engineering, and design professionals through articles showcasing noteworthy architectural projects around the world. News, commentary, criticism, and continuing-education sections outline the scope of content. Of note are the glossy, high-quality photos of featured projects, which give the magazine wider readership outside of just those working in the design professions.

Aditi Technologies is an American IT company, headquartered in Bellevue, Washington, United States with the largest center in Bangalore, India. Aditi was acquired by Symphony Teleca in April 2014. On 9 April 2015, Harman International Industries Incorporated acquired Symphony Teleca Corporation. On 12 November 2016, Samsung entered into a definitive agreement to acquire Harman International. Since 2017, Harman International has been an independent subsidiary of Samsung Electronics.

<span class="mw-page-title-main">TIBCO Software</span> American enterprise software company

TIBCO Software Inc. is a business unit of Cloud Software Group that provides enterprise software. It has headquarters in Palo Alto and offices in North America, Europe, Asia, the Middle East, Africa and South America.

<span class="mw-page-title-main">Mastek</span> Indian multinational technology company

Mastek is an enterprise-level digital engineering and cloud transformation company with operations in 40 countries. Listed on the National Stock Exchange and Bombay Stock Exchange, the company provides digital transformation services and software to large public and private enterprises, with over 5,810 employees globally. The company is headquartered in Mumbai, Maharashtra.

Trellix is a privately held cybersecurity company that was founded in 2022. It has been involved in the detection and prevention of major cybersecurity attacks. It provides hardware, software, and services to investigate cybersecurity attacks, protect against malicious software, and analyze IT security risks.

NTT DATA Corporation is a Japanese multinational information technology (IT) service and consulting company headquartered in Tokyo, Japan. It is a partially-owned subsidiary of Nippon Telegraph and Telephone (NTT).

NetWitness is a network security company that provides real-time network forensics automated threat detection, response, and analysis solutions. The company is based in Bedford, Massachusetts. In 2011, NetWitness was acquired by EMC Corporation and in 2020 was acquired by Symphony Technology Group as a stand-alone business unit, part of RSA Security.

Harman Connected Services, often abbreviated to HCS, is an American software company which is a subsidiary of Samsung Electronics through Harman International Industries. The Connected Services Division supplies software services to the mobile communications industry. Harman has a workforce of approximately 30,000 people across the Americas, Europe, and Asia.

Mandiant is an American cybersecurity firm and a subsidiary of Google. It rose to prominence in February 2013 when it released a report directly implicating China in cyber espionage. In December 2013, Mandiant was acquired by FireEye for $1 billion, who eventually sold the FireEye product line, name, and its employees to Symphony Technology Group for $1.2 billion in June 2021.

<span class="mw-page-title-main">Dell Technologies</span> American multinational technology company

Dell Technologies Inc. is an American multinational technology company headquartered in Round Rock, Texas. It was formed as a result of the September 2016 merger of Dell and EMC Corporation.

Forcepoint is an American multinational corporation software company headquartered in Austin, Texas, that develops computer security software and data protection, cloud access security broker, firewall and cross-domain solutions.

DarkSide is a cybercriminal hacking group, believed to be based in Russia, that targets victims using ransomware and extortion; it is believed to be behind the Colonial Pipeline cyberattack. It is thought that they have been able to hack and extort money from around 90 companies in the USA alone. The group provides ransomware as a service.

Skyhigh Security is a cloud security company, with headquarters in San Jose, California. The company offers enterprise cloud security services.

References

  1. 1 2 "Company website" . Retrieved 2022-04-11.
  2. "Portfolio". Symphony Technology Group. Retrieved 2021-06-03.
  3. "Erecruit™, Bond International Software and TempBuddy Combine Under the Erecruit Name Bringing Together the Industry's Most Complete Global Staffing Solutions". Cision PR Newswire. 2018-01-16.
  4. Staley, Eddie (September 22, 2014). "McGraw Hill Financial To Sell McGraw Hill Construction To Symphony Technology Group For $320M In Cash". Benzinga. Retrieved April 30, 2015.
  5. McGraw Hill Sells ENR and Construction Group to Equity Investor
  6. Maidenberg, Micah (December 14, 2014). "Best year since 2008 for construction industry". Crain's Chicago Business. Dodge Data & Analytics, a data provider formerly known as McGraw-Hill Construction
  7. "Dell Sells RSA to Consortium Led by Symphony Technology Group". techcrunch.com. 18 February 2020. Retrieved February 15, 2022.
  8. "McAfee Enterprise and FireEye are now called Trellix". ZDNet . Retrieved February 15, 2022.
  9. "FireEye Announces Sale of FireEye Products Business to Symphony Technology Group for $1.2 Billion". FireEye. 2021-06-02.
  10. "McAfee Enterprise and FireEye combo is now Trellix". itworldcanada.com. 27 January 2022. Retrieved February 15, 2022.
  11. "McAfee Enterprise cloud security biz relaunches as Skyhigh". venturebeat.com. 22 March 2022. Retrieved July 12, 2022.
  12. https://www.prnewswire.com/in/news-releases/eproductivity-software-becomes-an-independent-company-after-being-acquired-by-symphony-technology-group-stg-from-electronics-for-imaging-efi--818728536.html, Archived 2022-01-05 at the Wayback Machine
  13. Mathews, Eva (13 March 2023). "SurveyMonkey owner Momentive Global to be taken private in $1.5 bln deal". Reuters.
  14. Dorbian, Iris (2023-06-01). "STG-led investor group completes take-private $1.5bn acquisition of Momentive". PE Hub. Retrieved 2024-06-06.
  15. "Paul Hastings Has a Strong Summer on Market Leading Transactions | Paul Hastings LLP". www.paulhastings.com. Retrieved 2024-06-06.
  16. "Harman acquires Romesh Wadhwani group's Symphony Teleca for $780mn". Business Standard. January 24, 2015.