Allegro Reports 23 Percent Growth in 2014

DALLAS, TX  – Allegro Development Corporation, a leading provider of commodity risk management software, announced today its fiscal results for 2014, reporting a 23 percent revenue and more than 30 percent EBITDA year-over-year increase compared to 2013. The growth was fueled by the addition of 22 new logo accounts spanning global commodity markets, including major players transacting business in the commodities of power, gas, crude and natural gas liquids. Growth in maintenance, services and other categories contributed to the watershed year. In July, Allegro’s mounting success caught the attention of 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. Vector and Cerium subsequently acquired the software company, recapitalizing Allegro with plans to expand its product offering and sales footprint in 2015. Jason Liu was named as Allegro’s interim CEO. “Our goals for the coming year embrace a three-pronged approach to continuing the positive momentum that has been accelerating in recent years,” said Mr. Liu. “We will pursue existing markets with our core product, extend that product to accommodate adjacent markets and explore other merger and acquisition opportunities.” In addition to being … continue reading

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