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Allegro Reports 23 Percent Growth in 2014Allegro 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 (News - Alert) 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 named Energy Risk magazine's "ETRM Software House of the Year" and one of CIO Review's "Top 20 Most Promising Compliance Technology Solution Providers," Allegro also bracketed its 2014 accomplishments wth the following highlights and announcements:
"We view 2015 as our Year of Transformation," said Michael Hinton, Allegro's Chief Customer Officer and Senior Vice President of Products and Solutions. "Building on the innovation Allegro demonstrated in 2014, and expanding on our reputation as a thought leader in the commodity risk management industry, we are poised for aggressive growth and development on all fronts." About Allegro Allegro is a leading provider of commodity trading and risk management 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. For further information please contact Samantha Johnston at [email protected] or +1.214.237.8149.
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