The software developer Zeroturnaround founded in Tartu, Estonia has acquired the Danish software company Javeleon together with the rights to all related intellectual property.
Zeroturnaround acquires Danish software developer Javeleon
20th March 2013, 16:32
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The co-founders of the company, Allan Gregersen and Michael Rasmussen, will join forces with Zeroturnaround's teams in Tartu and Tallinn.
Javeleon was founded in 2012 to commercialize technology built upon research at the Maersk McKinney Moeller Institute at the University of Southern Denmark focused on dynamic updating.
"Our role is to create tools for better and more efficient software development. We welcome this opportunity to work with Allan and Michael, and we think our customers will be equally happy with the results," Zeroturnaround co-founder and CEO Jevgeni Kabanov said.
"We have admired the Zeroturnaround success story for years, and we believe our involvement will positively impact Zeroturnaround's future growth," Gregersen said in the press release to announce the acquisition.
Zeroturnaround has 90 employees with development centers in Tallinn and Tartu, a global sales center in Boston, Massachusetts, and a branch office in the Czech capital Prague. Its major owners are the Boston-based venture capital firm Bain Capital Ventures and executives.
Zeroturnaround currently develops JRebel and LiveRebel, Java Virtual Machine (JVM) based productivity tools and has paying users in over 80 countries. The company's best known customers include Ebay, Disney, HP, IBM, Lufthansa, Oracle and the US Federal Reserve.