Gunderson, Kirkland Help Guide $340M Azul Systems Deal
Law360 (March 4, 2020, 6:57 PM EST) -- Guided by Gunderson Dettmer, Java software vendor Azul Systems said Wednesday it has agreed to sell a majority stake in itself to Kirkland & Ellis-backed private equity firm Vitruvian Partners as well as Lead Edge Capital in a $340 million deal for the software company’s shareholders.
Sunnyvale, California-based Azul said the investment will allow it to continue growing its business and that it will operate with the same executive team. The company is the largest independent Java vendor, it said, and among other things helps deliver Java updates to independent software vendors and equipment manufacturers. Its customers include Microsoft, Adobe, Netflix...
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