After acquiring FPX in April 2016, HGGC has announced that it is increasing its investment in the company to allow it to expand to the global market. The amount was not disclosed, but it was said that FPX would use it to speed up the development of products and fin new strategic partnership through the increase of its channel. This is a globally renowned leader in enterprise solutions. Following the announcement, the company is set to roll out new operations that will shake up its structure with the aim of ensuring that they meet their new expectations. Analysts are waiting to see how everything will shape up.
Many years of investment
For many years, HGGC has been investing in companies that compete in the markets for digital commerce platforms. They also invest in companies that are in related applications. The company has recorded over $15 billion in transactions over the years that it has been investing in various ventures. It is a privately owned equity company, but it has been behind some of the most significant investments. For instance, they are the reason Selligent and MyWebGrocer are successful companies today. Despite their fantastic record in the industry, they still look for new partners for more investments.
A global expansion program
While announcing the deal, FPX Chief Executive Officer said that they were happy with the funding from HGGC and that now, they will be on the cusp of achieving an opportunity to be the dominant player in the CPQ market. He said that they had carefully analyzed all vendors in this industry and concluded that they are the only ones with the capacity to become market leaders. He said that their advantage is backed by their expertise, product capability, vision, domain expertise and talent.
Before the funding from HGGC, FPX had experienced a period of prolonged growth. For example, they expanded to Europe and opened a headquarters in Munich, Germany. In addition to that, they have operations in London, UK. The international management team was strengthened through the hiring of new senior executives who are tasked with ensuring that the global expansion programs remain on schedule and achieves the goals of the company.