Dynamic Firmware leader AMI announced that it will receive a majority investment from THL Partners, a premier private equity firm investing in middle-market growth companies. AMI offers leading technology companies silicon-level software (Dynamic Firmware) required to power, boot, manage, orchestrate, and secure modern computing environments. The strategic investment will accelerate AMI’s product expansion as it serves global silicon designers, device manufacturers, and cloud service providers.
Launched in 1985 and now employing over 1,500 engineers across seven countries, AMI claims a global customer base that includes Microsoft, Intel, AMD, Nvidia, Arm, and Foxconn, and hundreds of major silicon and cloud providers, and platform manufacturers. And over 60% of servers that power data centers and the cloud rely on AMI firmware, uniquely positioning the Company to support the substantial and growing need for firmware driven by the growth of artificial Intelligence (AI) and hyperscale cloud infrastructure.
THL invested in AMI through its flagship Fund IX and Automation Fund, the private equity industry’s first fund dedicated to automation-related businesses. HGGC previously owned AMI.
BofA Securities is serving as financial advisor and Kirkland & Ellis is serving as legal counsel to AMI. And Evercore acted as financial advisor, Ropes & Gray as legal counsel, and Paul Weiss as financing legal advisor, to THL. The transaction is expected to close in the fall of this year.
KEY QUOTES:
“As we embark on our next stage of growth and innovation, we are confident that THL is the right strategic partner for AMI. THL’s deep expertise in chips and software, and their commitment to the company’s core mission to help our customers scale, make them the right partner. We look forward to working with THL as we continue to provide best-in-class technology and services for those customers.”
-Sanjoy Maity, CEO of AMI
“Given our experience in semiconductors and software, THL has long seen AMI as a unique opportunity. As the world’s computational needs grow due to the proliferation of AI and cloud computing, demand for sophisticated firmware to manage complex hardware will grow in tandem. AMI is the global leader in this foundational work, and we are committed to help this talented team continue to support the world’s leading technology companies.”
-Zach Gut, Managing Director, THL
