The private equity firm HGGC has joined the list of many who have joined forces with older design media companies to help them make their comeback in this age of social media and technology-based design. Monotype Imaging is definitely at the top of those companies since they’re actually responsible for nearly all of the fonts used on Microsoft Word and many other platforms today. They’ve designed writing styles such as Arial and even Times New Roman, which is the current required font for most writing formats like MLA and APA.
So, obviously, they’ve had a huge impact on their market and definitely gained the most return in the beginning. But today it’s becoming more popular for older design companies to partner with bigger companies instead of trying to conform to design technology standards on their own. HGGC started buying shares at the perfect time, too. At its height, Monotype Imaging was valued at more than $33 per share in their company, but as things began to change, they steady fell in value. At the beginning of 2019, the company’s shares were only valued at $15 per share.
Luckily, HGGC came with the intent to help and not just acquire. They bought the shares offered to them by Monotype Imaging for $19.85 per share which was definitely a little more worth it for the company seeing as they hold the rights to well over 10,000 fonts that are still being used today. Monotype Imaging believes that their partnership with the HGGC firm will lead to nothing, but success and further growth for both businesses. It’s one of the biggest partnership deals currently because of the history the company has behind it. There are many deals happening just like it, but none are reaching its magnitude. They are set to increase the revenue for both companies by immense proportions and are both excited to show longtime supporters of Monotype Imaging what they will have in store for them in the next years to come as they work diligently with HGGC.