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Webmedia sells its stake in ZeroTurnaround

Jul 26, 2011 • Robert Lavine

US-based venture capital firm Bain Capital Ventures has bought out the stake in Estonia-based Java software developer ZeroTurnaround held by Estonia-based software development company Webmedia Group, as well as holdings held by minority shareholders. Terms were undisclosed.

Founded in 2007 as a spin-off from a Webmedia development team, ZeroTurnaround became an independent company in 2009. The Estonian financial newspaper Äripäev reported the size of the stake obtained by Bain as 47.5%.

The move comes as ZeroTurnaround continues to grow, with…

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