Golden Gate Capital, a $2.6 billion private equity fund, announced the acquisition of Symon Communications, Inc., the leader in software and hardware for real-time data display and enterprise communications. Following the transaction, Charles Ansley, president and CEO, and his existing leadership team will continue to lead the company.
“We are excited to welcome Symon into our portfolio of software companies which currently aggregate to over $2 billion in revenues. For more than 25 years, Symon has been a consistently profitable, growing company with loyal top-tier customers, a broad, compelling solution set, and a strong executive team. We believe our investment in the company comes at a pivotal time as they advance to their next stage in growth and market leadership,” said David Dominik, a Managing Director at Golden Gate Capital.
Since its founding in 1980, Symon’s real-time data reporting, visualization, and enterprise communications solutions have been deployed globally in the contact center, help desk, employee communications, supply chain and digital signage markets. The company’s blue chip customer base comprises over 7,000 customer sites, including approximately two-thirds of the Fortune 100.
In late 2003, Symon acquired TargetVision, a global leader in enterprise video communications solutions. Since then, Symon has successfully merged the TargetVision product line with its own, giving enterprise customers an easy-to-deploy, powerful IP-based solution for delivering enterprise communications via televisions and flat-panel video displays. Its recent release of the SDA series of dedicated, digital video network appliances has been met with customer enthusiasm and industry acclaim, including a “Best of Show” award at the ICCM Conference and Expo just last week.
“This acquisition comes at a very exciting time for Symon,” said Charles Ansley, president and CEO of Symon Communications. “Fiscal 2005 has been a record year for both revenue and profitability for the company. Our excellent financial performance, combined with Golden Gate’s investment resources and industry acumen, will facilitate new opportunities for Symon to establish itself in the marketplace, and deliver even greater business value to customers.”