NORCROSS, GA—April 2, 2019—AMI, a global leader in BIOS, UEFI, BMC firmware and remote management tools, announced today the closing of a major investment in AMI by HGGC, a leading middle-market private equity firm based in Palo Alto, California.
Founded in 1985 and headquartered in Norcross, Georgia with offices in eight countries, AMI is the world's largest provider of out-of-band server management firmware, UEFI and BIOS firmware, with its products deployed in a high proportion of all servers, data centers, embedded devices, and personal computers worldwide. AMI's industry-leading technologies, engineering-centric approach to management and relentless focus on customer support have allowed the company to sustain strong, long-term relationships with businesses across the computing ecosystem, including chip makers, hyperscale cloud service providers, ODMs and OEMs, as well as telecommunications providers.
While AMI has flourished and has been growing steadily, to become the world's leading provider of UEFI and BMC FW solutions, HGGC's investment in AMI allows AMI to expand its horizons. Following closing, the current AMI management team will continue virtually unchanged, lending continuity to the AMI culture and the AMI way of doing business. The investment by HGGC – along with its extensive relationships with potential customers in areas not currently serviced by AMI – will further accelerate growth at AMI.
"Since its founding in 1985, AMI has become known worldwide for its cutting-edge technology products, and most importantly, for its stability and customer-focus. AMI is now poised to enter its next phase of growth, so it was important to find a partner who will maintain continuity and will be able to help unlock new value to keep it moving forward," commented Subramonian Shankar, President, CEO & Founder of AMI. "HGGC not only has a tremendous track record of growing technology businesses, but they also share our vision for building on past successes and taking AMI to the next level. We strongly believe that HGGC will be a great partner to our team."
"Not many people outside the system software ecosystem are familiar with AMI, but its products are mission-critical for the biggest computing brands in the world," said Steve Young, HGGC President and Co-Founder. "Shankar has built an incredible business in AMI, and we could not be more pleased that he chose to partner with us to take the company into the future."
"AMI is perfectly situated in the system software ecosystem to deliver world-class products and services to its customers and to continue to lead a rapidly evolving industry in innovation," said Bill Conrad, Principal of HGGC. "We are very excited to work with Shankar and the senior leadership of AMI to continue to grow the company by developing new products and solutions critical to their customers' success."
HGGC is a leading middle-market private equity firm with $4.3 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its "Advantaged Investing" approach that enables the firm to source and acquire scalable businesses at attractive multiples through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed more than 100 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of more than $17 billion. More information is available at www.hggc.com.
Founded in 1985 and known worldwide for AMIBIOS®, the mission of American Megatrends (AMI) is to power, manage and secure connected devices by providing best-in-class UEFI and remote management firmware, software and utilities to top-tier manufacturers of desktop, server, mobile and embedded/IoT systems. In line with its technology focus, AMI is a member of numerous industry associations and standards groups, such as the Unified EFI Forum (UEFI), the NIST National Cybersecurity Excellence Partnership (NCEP) and the Trusted Computing Group (TCG). Headquartered in Norcross, Georgia, AMI has locations in the U.S., China, Germany, India, Japan, Korea, Taiwan and Hong Kong to better serve its customers.
For more information on AMI, its products or services, call 1-800-U-BUY-AMI or visit ami.com.
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