Allegro Development Corporation is a maker of commodity management software for power and gas utilities; refiners, producers and traders of crude oil, refined products,

soft commodities Soft commodities, or softs, are commodities such as coffee, cocoa, sugar, corn, wheat, soybean, fruit and livestock.Patrick Maul, ''Investing in Commodities'', diplom.de, 2011, p8 table c. The term generally refers to commodities that are grown, ra ...

and agricultural commodities; and industrial energy consumers. Headquartered in

Dallas, Texas Dallas () is the third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County wi ...

; Allegro has offices in

Calgary Calgary ( ) is the largest city in the western Canadian province of Alberta and the largest metro area of the three Prairie Provinces. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806, maki ...

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics ...

Houston Houston (; ) is the List of cities in Texas by population, most populous city in Texas, the Southern United States#Major cities, most populous city in the Southern United States, the List of United States cities by population, fourth-most pop ...

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

, Zurich and Jakarta along with a global network of partners.

History

Allegro was founded in 1984 by Eldon Klaassen. The company was the first to develop an

enterprise software Enterprise software, also known as enterprise application software (EAS), is computer software used to satisfy the needs of an organization rather than individual users. Such organizations include businesses, schools, interest-based user group ...

platform designed specifically to manage trading, risk management, and logistics associated with physical

commodities In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a co ...

. In 2008, Allegro received a

Series A round A series A round (also known as series A financing or series A investment) is the name typically given to a company's first significant round of venture capital financing. The name refers to the class of preferred stock sold to investors in exc ...

of venture funding from North Bridge Growth and Tudor Growth Equity. In 2014, the firm was recapitalized by Vector Capital, a private equity firm focused on investments in technology companies, and Cerium Technology Ventures, a venture capital firm founded by Allegro founder Eldon Klaassen. Immediately after the recapitalization, James Liu was appointed CEO. Allegro also acquired analytics software company Financial Engineering Associates in April 2018. In May 201
Frank Brienzi
was appointed CEO. The compan

Singapore-based agriculture commodities solution provider JustCommodity in June 2015. In April 2019, Allegro was acquired by ION Group

Products

The company’s primary product is Allegro Horizon, an enterprise-level risk management architecture. The software is used by traders, risk managers, and decision-makers across the globe, including

energy industry The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy industr ...

companies.

2013 Governance Litigation

In June 2013, Eldon Klaassen, founder and former CEO of Allegro, sued the company and directors Mick Pehl, Bob Forlenza, Patrich Simpkins, and Ray Hood for fiduciary breach. On October 16, 2013, Vice Chancellor

J. Travis Laster James Travis Laster is an American corporate lawyer and judge who has served as a Vice Chancellor of the Delaware Court of Chancery since 2009. Legal career Laster graduated from Princeton University in 1991 and the University of Virginia Scho ...

handed dow
a 56-page memorandum opinion
that said the claims asserted by Eldon Klaassen were barred because of his delay in bringing his suit.

References

{{reflist Software companies based in Texas Companies based in Dallas Software companies established in 1984 1984 establishments in Texas Software companies of the United States