Karlsruhe, Sofia & Boston – TA Associates, a global growth private equity firm, and LEA Partners, a technology focused private equity firm, announced an agreement to merge Enscape, a leading developer of real-time rendering and design workflow technology for the Architecture, Engineering and Construction (AEC) industries, and Chaos, a world leader in photorealistic rendering technology. The merger will establish a global leader in the 3D visualization and design workflow software sectors, with a focus on the AEC, Visual Effects (VFX) and Product Design verticals.
The newly-combined company, which will retain the Chaos name, aims to develop and strengthen its product portfolio to create a comprehensive end-to-end visualization ecosystem, designed to meet the evolving needs of its customers. All products from both company portfolios will continue to operate and be available under their respective name, including leading products, Enscape, V-Ray, and Corona.
Peter Mitev, CEO and co-founder of Chaos, and Christian Lang, CEO of Enscape, will share the title of co-CEO for the new company. Vladimir Koylazov, co-founder of Chaos and current head of software operations, will also continue to drive R&D and innovation in a leadership position. The joint workforce will total more than 500 employees across the globe, with corporate headquarters in Karlsruhe, Germany and additional offices in Sofia (Bulgaria), Prague (Czech Republic), Tokyo (Japan), Seoul (Korea), Los Angeles (USA) and New York (USA).
“Enscape has seen a period of extraordinary growth, outpacing an already fast-growing market. We are thrilled to join forces with Chaos as we seek to further our scale, recognizing that our companies are highly complementary and share an end-to-end product vision. With the support of LEA and TA, we will significantly increase our investment in growth, technology and people,” said Christian Lang.
“Visualization is critical to creating the future – both in the real world and the metaverse,” said Peter Mitev. “We are excited to team up with Enscape, TA, and LEA Partners to bring forth the world’s best 3D visualization ecosystem.”
The transaction is subject to customary regulatory approvals and is expected to be completed during the first quarter of 2022. Financial terms of the transaction were not disclosed.
Link to the Enscape 3.0 video: https://www.youtube.com/watch?v=qo-HRFXIHZM