Tuesday Mar 19, 2013 by Dennis Keohane - Contributor, VentureFizz
ZeroTurnaround, the international software development productivity company funded by Bain Capital Ventures, announced that it has acquired Javeleon, a Java development tool company. Originally headquartered in Estonia, ZeroTurnaround, moved its global sales center to Boston a couple of years ago according to the BBJ.
The acquisition of Javeleon, a company whose product eliminates the need for the restarting of applications while developing Java projects, adds to ZeroTurnaround’s own dynamic coding software productivity resources, including JRebel and the recently unveiled LiveRebel 2.6.
The deal also gives ZeroTurnaround exclusive rights to the intellectual property related to Javeleon’s products. Javeleon’s technologies are a commercialization of innovations from the Maersk McKinney Moeller Institute at the University of Southern Denmark that were developed to decrease the downtime which slows down coding in Java as well as other coding environments. The company’s co-founders, Dr. Allan Gregersen and Michael Rasmussen will join ZeroTurnaround’s team in Estonia, helping the company to maintain it status as an industry leader in multi-environment coding productivity solutions.
In the press release to announce the acquisition, both companies expressed their excitement at the possibilities brought by the new partnership. Javeleon’s Dr. Gregersen said, “We have admired the ZeroTurnaround success story for years, and we believe our involvement will positively impact ZeroTurnaround’s future growth.” Added ZeroTurnaround’s co-founder and CEO Jevgeni Kabanov, “We welcome this opportunity to work with Allan and Michael, and we think our customers will be equally happy with the results.”