Battery Ventures has acquired Concurrent Real-Time, a business segment of Concurrent Computer Corp for $35 million in gross proceeds. Concurrent Real-Time produces software and systems for applications or simulations serving industries such as aerospace, defense, automotive, energy and financial.
POMPANO BEACH, FL–(Marketwired – May 15, 2017) – Battery Ventures, a global, technology-focused investment firm, announced today it has completed the acquisition of Concurrent Real-Time, a business segment of Concurrent Computer Corporation (NASDAQ: CCUR), a software and services company. The transaction creates a new, independent operating business named Concurrent Real-Time, Inc. As part of the transaction, Battery General Partner Russell Fleischer and Battery Vice President Jordan Welu will join Concurrent Real-Time’s board.
Concurrent Real-Time produces real-time software and systems, meaning technology that powers applications or simulations with mission-critical performance requirements, including those serving industries such as aerospace, defense, automotive, energy and financial. The company’s product suite includes RedHawk, a real-time Linux operating system; NightStar, a set of development tools designed to aid developers in building better and faster real-time applications; and SIMulation Workbench, a real-time simulation application that runs on RedHawk and executes advanced, high-frame-rate, multiple model simulations.
“Our business plan for Concurrent is dedicated to expanding our leadership position in real-time software solutions, including hardware-in-the-loop (HIL), man-in-the-loop (MIL), data-acquisition and process-control,” said Ken Jackson, President and CEO of Concurrent Real-Time. “We will remain dedicated to continued product innovation, just as we have done historically with early support of new platform technologies. Our customers will continue to receive high quality support and professional service.”
“We have a solid foundation of blue-chip customers that include many of the world’s aerospace and defense integrators,” Jackson added. “By expanding our product portfolio through the SIMulation Workbench platform, we are addressing new market segments, including the automotive market. We have already added twenty-four new automotive customers that use both HIL and MIL simulation, and we see strong demand for real-time systems.”
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, Tel Aviv and London. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.
About Concurrent Real-Time
Concurrent Real-Time is a global software and solutions company that develops advanced server and embedded applications focused on mission critical opportunities. We serve industries and customers that demand uncompromising performance, reliability and flexibility to gain a competitive edge, drive meaningful growth and confidently deliver best-in-class solutions that enrich the lives of millions of people around the world every day. Offices are located in North America, Europe and Asia. Visit www.concurrent-rt.com.
Concurrent Real-Time and its logo are registered trademarks of Concurrent Real-Time. All Concurrent Real-Time product names are trademarks or registered trademarks of Concurrent while all other product names are trademarks or registered trademarks of their respective owners.