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Symphony Technology Group
American private equity firm From Wikipedia, the free encyclopedia
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STG Partners, LLC (STG) is an American private equity firm and based in Menlo Park, California.[4] Its predecessor, Symphony Technology Group ("Symphony") was founded in 2002[5] by Romesh Wadhwani, who recruited William Chisholm and Bryan Taylor to join him in the founding of Symphony. In 2017, Symphony was reorganized as STG Partners.[5] As of March 2025, STG Partners managed approximately $12 billion in 19 pooled investment vehicle for its clients. The firm itself has less than one billion dollars in assets.[2]
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History
In the early 2000s, Romesh Wadhwani invited William "Bill" Chisholm to join a new private equity firm, Symphony Technology Group (Symphony), as a senior investment partner.[6][7] Bryan Taylor was also a co-founder of Symphony,[8] and remained at the firm until 2004.[9]
In 2017, Wadhwani retired as Symphony's CEO, and the firm was reorganized STG Partners LLC.[5][6][10] Chisholm assumed the chief executive and ownership role.[6][11]
In September 2021, STG Management Holdings, L.P., acquired "greater than 75%" of STG Partners.[2]
The firm maintains offices in Bangalore, India, London, England, and Menlo Park, California.[2] Stephen Henkenmeier is STG's managing director and chief financial officer.[5]
In March 2025, STG Partners reported $12 billion in assets under management (AUM),[2] a slight increase from $11.7 billion AUM in 2024.[3] In addition, Symphony Technology Group, which maintains an inter-company relationship with STG Partners, reported approximately $341 million AUM in March 2025.[12]
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Acquisitions
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Symphony acquired McGraw-Hill Construction from McGraw-Hill Financial for US$320 million on September 22, 2014.[13] The acquisition includes Engineering News-Record, Architectural Record, Dodge and Sweet's.[14] McGraw-Hill Construction has been renamed Dodge Data & Analytics.[15]
On February 17, 2020, Dell Technologies sold its RSA Security business to a group led by STG in an all-cash transaction for $2.075 billion.[16]
In March 2021, STG acquired McAfee Enterprise for $4 billion.[17] On June 2, 2021, FireEye announced the sale of key software technologies to Symphony for $1.2 billion, while retaining the services business under the Mandiant name. FireEye bought Mandiant for around the same price.[18] On January 18, 2022, Symphony announced the launch of Trellix, an extended detection and response company, which is a combination of FireEye and the McAfee enterprise business.[19] In January 2022, STG announced the McAfee Enterprise security service edge (SSE) business would operate as a separate company to be known as Skyhigh Security. The cloud security company is headquartered in San Jose, California, and led by CEO Gee Rittenhouse.[20]
On January 5, 2022, EFI split off its software business, creating eProductivity Software, which was sold to STG.[21]
In March 2023, a private equity consortium led by STG agreed to acquire Momentive Global Inc. formerly SurveyMonkey, an experience management company, based in San Mateo, California, in an all-cash deal valued at $1.5 billion,[22][23][24] and rebranded it back to SurveyMonkey.
On July 7, 2023, Wrike, a work management platform, announced it was being acquired by STG for an undisclosed amount. The transaction was completed later that month.[25]
On August 9, 2023, STG announced it was acquiring Avid (a Burlington, Mass.-based company that makes Sibelius, Pro Tools, Media Composer, and other products for the audio, video, and media industries) in a $1.4 billion deal. The deal was completed in November of that year.[26]
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Divestments
- Symphony Teleca (from the merger of Teleca and Symphony Services) was sold to Harman International Industries in 2015.[27]
References
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