LogInEnscape, a provider of real-time rendering and virtual reality technology, and Chaos, a provider of photorealistic rendering technology, announced they will form a new merged company.
A global provider in photorealistic rendering technology Chaos and a real-time rendering and virtual reality technology provider Enscape have merged. This news was announced by global private equity firms TA Associates and LEA Partners on January 11. Deal specifics weren't revealed, however, two companies have plenty of ideas on how the merger might change visualization directions for the AEC industry.
According to the press release, "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".
Chaos is a worldwide provider in computer graphics technology which develops 3D rendering and simulation software. Currently, the company can boast achievements in ray tracing, cloud rendering, and real-time visualization which contribute to design communication and storytelling. The company was founded in 1997, and today it has offices in Sofia, Prague, Seoul, Tokyo, and Los Angeles.
AEC-focused Enscape is a developer of high-quality real-time rendering and virtual reality software. The software is used by architecture firms in more than 150 countries, having over 24,000 customers and 240,000 active monthly users globally. The company's offices are located in Karlsruhe (Germany) and New York (USA).
The newly blended company is going to keep the Chaos name. CEO and co-founder of Chaos Peter Mitev and CEO of Enscape Christian Lang will become the co-CEOs at the new company. Vladimir Koylazov, a co-founder of Chaos and head of software operations, will also continue to be the head of R&D and innovation.
TA Associates will join LEA Partners in the newly-merged company along with the management of Chaos and Enscape. As part of the transaction, Sean Flaherty is going to take the Chairman of the Board of Directors of Chaos position.
The transaction is estimated to be completed during the first quarter of 2022. No financial terms of the merger haven't been disclosed yet.
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