Global growth private equity firm TA Associates (TA) is to make a majority investment in IGEL, the provider of the next-gen edge OS for cloud workspaces.
TA joins existing IGEL investor C Melchers GmbH & Co KG (Melchers), which has been IGEL’s primary investor since its founding in 2001 and will maintain a significant equity interest in the company. After handing over the position of IGEL CEO to Jed Ayres last year, founder and former CEO of IGEL Heiko Gloge also remains as a minority stake holder and board member. Financial terms of the transaction were not disclosed.
IGEL also announced that Bill Veghte will join the IGEL Board as Executive Chairman. Veghte has decades of experience developing operating systems and bringing industry-leading technologies to market as a senior leader at Microsoft and HP, as a board member for a wide variety of companies including Xero, and as the founder of Athene Partners.
“IGEL is the market-leading edge operating system, delivering simplicity with manageability, security, and the flexibility that delivers a richness of experience at a time when customers need these capabilities more than ever before,” says Veghte. “I am pleased to be joining the IGEL Board at such a transformational time for the company and the industry, and to be supporting Jed and the team in accelerating IGEL’s growth.”
Read more/Source: Private Equity Wire
