MDT will complement Hg’s other investments in industry automation, including sister company Auvesy which, together with MDT, will form a global, reliable and highly innovative partner for customers, setting the standard in the sector.
Alpharetta, Georgia, USA and London, United Kingdom: 04 August 2021 – Hg, a leading global software and services investor, today announces the completion of an investment in MDT Software (“MDT”), a leading global provider of version control and change management software solutions for automated industrial environments, with a strong footprint in the US and in installations worldwide.
As part of the transaction the current majority owner of Desco Corporation (“Desco”) has fully exited his position in MDT. The terms of the transaction have not been disclosed.
Founded in 1987 and headquartered in Alpharetta, Georgia, USA, MDT is a trusted provider of disaster recovery and change management solutions for automated devices. Its solution ‘MDT AutoSave’, supports all manufacturers to effectively manage an increasing array of smart devices on the plant floor. MDT manages over a million industrial IoT devices across 44 countries, serving over 400 loyal customers.
MDT is the ninth investment in Hg’s Automation & Engineering cluster and is made from the Hg Mercury 3 Fund. It complements Hg’s recent investment in Auvesy, a European sector leader for version control and change management software. Auvesy and MDT will work together to set the much-needed industry standard in the industry automation space, which sees an exponential growth in the number of digitized devices that need to be maintained and managed. MDT and Auvesy will focus their products to deliver version control solutions from a technical, cybersecurity, compliance and, for certain industries, a regulatory perspective.
„This is great news for everyone at MDT. Over the last 32 years the MDT team has worked hard to get us into this position. Our team and our customers will benefit significantly from Hg’s operational experience in cloud technologies and business intelligence. Together with Hg and Auvesy we will further improve our products and customer service to make digitalization easier for our customers, while reducing downtime, aiding in compliance and reducing cyber risk.“
Gary Gillespie, President of MDT
“MDT is a great business with a successful history and strong customer footprint. We see digitalization on the shopfloor as at an inflection point, with significant growth opportunity in this sector, both across new industry verticals and expansion into additional use cases. Having both Auvesy and MDT in our portfolio will enable us to offer better solutions to customers whilst driving innovation and adoption in this segment.”
Benedikt Joeris, Director at Hg
“With MDT and Auvesy we do have an even better base for our success in the US and EMEA. Aligning the product roadmaps will enable us to serve the specific needs of our growing customer base even better.”
Markus Reithwiesner, an industry advisor at Hg and serving board member for several companies in the production and industry automation sector, will lead both MDT and Auvesy as Chairman
Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $30 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth over $60 billion aggregate enterprise value, with over 35,000 employees globally.