TMCnet News
Lynx Software Technologies Receives Strategic Investment from OceanSound PartnersLynx Software Technologies ("Lynx"), a developer of open architecture software solutions for mission critical embedded systems, today announced it has received a strategic investment from affiliates of OceanSound Partners, LP ("OceanSound"), a private equity firm that invests in technology and technology-enabled services companies serving government and enterprise end markets. Based in San Jose, California, Lynx provides software solutions and related services which support the development, integration, certification, and maintenance of safety- and security-critical systems positioned at the mission critical edge. Lynx's offerings enable customers in the aerospace, defense, industrial, and critical infrastructure end-markets to deploy systems more rapidly, reliably, and cost-effectively by aligning with open standards and key industry certifications. "Lynx has a decades-long track record of supporting the deployment of systems at the mission critical edge and the investment from OceanSound validates the differentiation of our core products and the hard work of our exceptionally talented and dedicated team," said Gurjot Singh, Chief Executive Officer of Lynx. "We selected OceanSound as our partner due to their extensive experience investing at the intersection of the commercial and government technology markets and look forward to leveraging their expertise in accelerating growth and driving operational excellence." "Gurjot and his team have done a phenomenal job growing Lynx over the last few years, most notably having the LYNX MOSA.ic&trad; software framework support the upgrade of the mission system avionics for the F-35 Joint Strike Fighter Program. The selection of Lynx's core platform in the Department of Defense's largest and most important program is a testament to the robustness of Lynx's core technology and validates their growth potential," said Joe Benavides, Managing Partner of OceanSound. "The completion of this transaction marks the beginning of an exciting new chapter for Lynx, and we look forward implementing our engineering-like approach to value creation and pursuing strategic growth initiatives in partnership with the management team." "Aerospace, defense, industrial, and critical infrastructure clients are increasingly focused on adopting open architecture software solutions that deliver reliable performance and security while decreasing development and sustainment costs. Lynx's modular, open, and interoperable products are well-positioned to meet the requirements of the most demanding applications. We are excited to partner with the Lynx team to invest further in the business to accelerate the Company's differentiation and growth, both organically and with strategic acquisitions," said David Stein, a Principal with OceanSound. Stonepine Advisors, LLC served as financial advisor, and DLA Piper LLP served as legal counsel to Lynx. Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to OceanSound.
About Lynx Software Technologies
About OceanSound Partners
View source version on businesswire.com: https://www.businesswire.com/news/home/20220623005302/en/ |
