Vector and Cerium Sell Allegro Development Corporation to ION Group

SAN FRANCISCO–(BUSINESS WIRE)–Vector Capital, a leading private equity firm specializing in
transformational investments in established technology businesses, and
Cerium Technology, a leading venture capital firm, today announced the
sale of Allegro Development Corporation (“Allegro”), a leading global
provider of enterprise commodity management solutions, to ION, a
provider of mission-critical trading and workflow automation software
solutions to financial institutions, central banks, governments, and
corporates. Terms of the transaction were not disclosed.

Vector Capital partnered with Cerium Managing Director and Allegro
founder, Eldon Klaassen, in 2014 to acquire and later recapitalize the
company. Under their ownership, Allegro attracted new management,
increased revenue by 50%, completed two acquisitions and expanded its
product offerings and geographic footprint.

Andy Fishman, a Managing Director at Vector Capital, said, “We are
pleased to have supported Allegro’s growth and reached a great outcome
for our investors. This investment highlights our proven strategy of
partnering with founders and management teams to help them achieve their
business objectives and position their companies for long-term success.”

Vector Capital has been a terrific partner and I am proud about what we
have achieved together over the past five years,” said Mr. Klaassen.
Backed by Vector and Cerium’s deep software sector expertise and
operational resources, Allegro expanded its global and scalable platform
and enhanced its service offering to our customers.”

Paul Hastings LLP and Latham & Watkins served as legal counsel to Vector
Capital and Cerium in connection with the sale and Barclays plc served
as financial advisor.

About Vector Capital

Vector Capital is a leading global private equity firm specializing in
transformational investments in established technology businesses. With
more than $4 billion of capital under management, Vector actively
partners with management teams to devise and execute new financial and
business strategies that materially improve the competitive standing of
businesses and enhance value for employees, customers, and all
stakeholders. For more information, visit http://www.vectorcapital.com.

About Cerium Technology

Cerium Technology is a venture capital firm that invests in technology
for energy, IoT, and capital markets. The firm has created a unique and
scalable process to find and evaluate opportunities for investment,
design and execute investment transactions, create value with sound
strategic and tactical direction, and generate extraordinary returns. www.cerium-technology.com.

About Allegro

Allegro is a global leader in commodity management software for
companies who buy, sell, produce or consume commodities. For over 30
years, Allegro has delivered position visibility, risk management,
comprehensive controls and regulatory compliance through a forward
compatible, next-generation architecture that is built for your
business. Headquartered in Dallas, Texas, Allegro has offices in
Calgary, Dubai, Houston, Jakarta, London, Singapore and Zurich, along
with a global network of partners. For more information, visit www.allegrodev.com.

Contacts

Media:
Nathaniel Garnick/Grace Cartwright
Gasthalter &
Co.
(212) 257-4170

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