|Issue: Week of April 18, 2003
ACCEL-KKR ACQUIRING ALIAS FROM SGI
|MENLO PARK, CA - Accel-KKR, the technology-focused private equity firm, here, has entered into an agreement with SGI to acquire Alias, its wholly-owned 3D software manufacturer based in Toronto. With the participation from the management of Alias, Accel-KKR will purchase the company from SGI for $57.5 million.
"We are delighted to be pursuing this opportunity with the management team of Alias," says Ben Bisconti, managing director of Accel-KKR. "As an independent company, Alias will be in an even better position to capitalize on growth trends in the market and lead the industry in new and exciting directions."
"This exciting new partnership enables Alias to enhance its position as the innovation leader in 3D software," says Alias president Doug Walker. "Our plan is to accelerate investment in the product and service areas that provide the greatest payback for our entertainment and design customers. Our new partnership with Accel-KKR will facilitate this activity, providing long-term patient capital and other strategic resources to help us thrive as an independent enterprise. We believe Alias is uniquely positioned to lead and drive future innovation and, at the same time, make 3D technology more accessible to both professionals and consumers. The breadth of applications for this category of software is enormous."
The sale is expected to close this quarter.