EQT is pleased to announce that EQT Private Equity, through the EQT Mid Market US fund, has agreed to sell Zemax (“the Company”) to Ansys (NASDAQ: ANSS). With the support of EQT, Zemax expanded its management team and focused on broadening the Company’s product portfolio through substantial R&D investment focused on the fastest-growing segments in the optics space. Zemax also revamped its go-to-market sales approach and successfully transitioned the business model toward recurring subscription revenue.
Arvindh Kumar, Partner and Investment Advisor to EQT Private Equity, said: “EQT’s investment in Zemax exemplifies our goal of investing in companies that provide mission-critical products underpinned by strong market growth. By focusing on the Company’s growth and investing in future-proofing initiatives, the management team, together with EQT, has positioned Zemax for success and we are confident that Ansys will be a good long-term home for the Company.”
S. Subbiah, Chief Executive Officer at Zemax, said: “Zemax has been a leader in optical design simulation with a mission to enable our customers to design sophisticated optical products and bring them to market since our founding 30 years ago. With the support of EQT, we have successfully expanded our value proposition by upskilling our salesforce, introducing new products, supporting more design workflow, and simulating interactions within the whole product. We thank EQT for their guidance and partnership and look forward to joining forces with Ansys to build on our strong momentum going forward.”
Founded in 1990, Zemax helps the world’s leading brands and institutions design optical systems for a broad range of applications by streamlining the workflow and communication among optical, mechanical, and manufacturing engineers.
