Cloud workspace systems provider IGEL has new owners and has appointed a new executive chairman to drive its channel growth further. Global private equity firm TA Associates has taken a majority investment in the company. Melchers, which has been IGEL’s primary investor since its founding in 2001, will maintain a “significant” equity interest in the company, it said.
After handing over the position of IGEL CEO to Jed Ayres last year, founder Heiko Gloge also remains as a minority stake holder and board member. Financial terms of the transaction were not disclosed.
In addition, former Microsoft and HP senior executive and industry investment partner Bill Veghte will join the IGEL board as executive chairman, as a TA Associates appointee. TA Associates' Jonathan Meeks and Stefan Dandl will join him on the board.
Founder Gloge said: “With his network and his extensive knowledge of the industry, Bill will contribute to expanding and deepening the strong relationships that IGEL has built with technology partners.”
Veghte added: “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.”
“I am 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.”
TA said it planned to “accelerate” the company’s growth globally through “increased operational and development bandwidth” and “significant” go-to-market investments, including the “further activation of channel partners”.
IGEL says it has seen triple-digit growth over the past five years in billings, margins and units. For the year ended 31 December 2020, the vendor says it increased revenues from recurring software products and services by over 150% year-over-year worldwide, “supported by IGEL’s growing channel partner ecosystem”. Last year, the firm appointed US-based channel veteran Balaji Subramanian as its global channels chief.
The IGEL OS is said to be currently operating on more than 4m edge devices.
