M&M Growth Partners Celebrates Successful Exit as AMD Acquires SiloAI for $665 Million
M&M Growth Partners has announced a successful exit from its portfolio company SiloAI, as AMD agrees to acquire the European AI leader in an all-cash transaction valued at approximately $665 million. This marks the largest European AI startup acquisition since Google’s purchase of DeepMind in 2014.
MMGP partners Harry Brade and Mikko Leino joined the SiloAI board in 2018 when the company’s revenue was in the low single-digit millions of euros. Since then, SiloAI has grown to become Europe’s largest private AI lab, specializing in end-to-end AI-driven solutions for global enterprises.
“We’re thrilled to see SiloAI join forces with AMD on their aligned mission to shape the future of AI and computing,” said Harry Brade, Partner at MMGP. “This acquisition is a testament to the vision and hard work of SiloAI’s Founder and CEO Peter Sarlin, Chair Tero Ojanperä, the Silo management team, and all Silonauts who have contributed to the company’s incredible growth journey.”
“M&M Growth Partners Harry Brade’s and Mikko Leino’s deep hands-on experience in IT services & SW industries was invaluable when scaling Silo AI. MMGP was Silo’s 1st outside investor. Their contributions were pivotal in building a strong and efficient foundation.”, said Tero Ojanperä Chair of SiloAI.
The acquisition by AMD is expected to accelerate the development and deployment of AI models and software solutions, enhancing AMD’s position in the competitive AI market. SiloAI’s capabilities in Large Language Models (LLMs), established blue chip customer base and staff’s deep AI expertise, were key contributors to the deal.
