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Vector Capital and Cerium Technology Announce the Recapitalization of Allegro Development
|By Business Wire
|July 24, 2014 06:20 PM EDT
Vector Capital, a leading global private equity firm specializing in
transformational investments in established technology businesses and
Cerium Technology, an investment fund focused on energy, trading and
technology, today announced the recapitalization of Allegro Development
Allegro Development Corporation, founded in 1984, is a global, leading
software provider for power and gas utilities, refiners, producers,
traders and energy consumers. With more than 30 years of deep industry
expertise, Allegro provides real-time intelligence and decision-making
David Fishman, a Managing Director at Vector Capital who will join
Allegro’s Board of Directors, commented, "For 30 years, Allegro has been
a leader in the space, successfully providing solutions for the
industry’s largest and most complex customers. We are honored to partner
with Allegro and Cerium towards accelerating this growth going forward."
Allegro has shown substantial revenue growth. The industry has taken
notice of Allegro’s market leadership and recognized the company for its
success, including Energy Risk Magazine’s Software House of the Year and
one of CIO Review’s 20 Most Promising Risk Management Solution Providers
for Capital Markets.
As part of the transaction, Jason Liu is joining Allegro’s team as
interim CEO. Jason has a strong track record of building high growth
companies in the software space.
Eldon Klaassen, Managing Director at Cerium Technology and Allegro’s
founder, said, "Cerium is extremely excited about partnering with Vector
in the next stage of Allegro’s growth. I founded Allegro with the vision
of becoming the undisputed leader in the space. This partnership will
allow Allegro to accelerate its investment into its products, people,
customers, and partners.”
Andy Fishman, a Principal at Vector who will also join the Board of
Directors commented, "We are thrilled about Allegro becoming part of the
Vector family. Through our partnership with Cerium, we are committed to
strengthening and expanding Allegro’s market leading product and service
About Allegro Development
Allegro is a leading provider of commodity value chain and risk
management (CVCRM) software for power and gas utilities, refiners,
producers, traders and commodity consumers. With more than 30 years of
deep industry expertise, Allegro provides real-time intelligence and
decision-making capabilities, from the source of the commodity (ground),
through transportation, to the commodity consumer. Allegro’s software
provides the global intelligence companies need to manage physical and
financial positions, and to optimize their assets and portfolios using
tools that quantify and mitigate risks. Headquartered in Dallas, Texas,
Allegro has offices in Calgary, Houston, London, Singapore, Sydney and
Zurich, along with a global network of partners.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in
transformational investments in established technology businesses.
Vector identifies and pursues these investments in both the private and
public markets. Vector actively partners with management teams to devise
and execute new financial and business strategies that materially
improve the competitive standing of these businesses and enhance their
value for employees, customers, and shareholders. Among Vector's notable
investments are Aladdin Knowledge Systems, Cambium Networks, Certara,
CollabNet, Corel, IPVALUE Management, LANDesk Software, Niku, Gerber
Scientific, RAE Systems, Register.com, SafeNet, Technicolor, Teletrac,
Tidel, WatchGuard Technologies, and WinZip.
About Cerium Technology
Cerium Technology is an investment firm focused on energy, trading and
technology. Cerium is managed by energy industry veteran Eldon Klaassen,
and has current investments in oil and gas exploration and production,
mobile energy analytics, and advanced trading technology. Cerium invests
in companies with unique assets and ideas that can be enhanced by their
expertise and vision.
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