Allegro Development Corporation


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 and agricultural commodities; and industrial energy consumers.
Headquartered in Dallas, Texas; Allegro has offices in Calgary, Dubai, Houston, London, Singapore, 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 platform designed specifically to manage logistics associated with physical commodities.
In 2008, Allegro received a Series A round of venture funding from North Bridge Growth and Tudor Growth Equity. Klaassen left as CEO at that time and became a member of the Allegro Board in 2012 with Ray Hood succeeding him as CEO. In 2014, the firm was recapitalized by Vector Capital, a private equity firm focused on investments in technology companies. and Cerium Technology an energy, trading and technology investment firm founded by Allegro founder Eldon Klaassen.
In May 2015 was appointed CEO. The company 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 some of the world’s largest energy industry companies.
Allegro Customers include , , Neas Energy, and TransAlta.

2013 Governance Litigation

In June 2013, Eldon Klaassen, founder and former CEO of Allegro, sued the company for removing him as CEO. On October 16, 2013, Vice Chancellor J. Travis Laster handed down that said the claims asserted by Eldon Klaassen were barred because of his delay in bringing his suit. Details surrounding Klaassen's termination were revealed in court.