Allurent, Previously Reported Closed, Finds New Life at Jenzabar
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continue to run the same business with the customers it had (and never lost, contrary to reports of the company shutting down), Maginn says. The acquisition deal went through in December, he says.
“My goal is to basically first and foremost continue the Allurent business on the same track it was on,” he says. He plans to hire virtually all of the former Allurent staffers or equivalent positions who were on at the time that the acquisition deal for the company fell through, around third and fourth quarter of last year. Allurent employees (Maginn didn’t specify how many) will move from their Cambridge office—which also houses Polaris Venture Partners’ Dogpatch Labs—to Jenzabar’s space in Boston’s Back Bay, says Maginn. Allurent employees could also get more involved with the Jenzabar technology and products over time, he says.
Maginn didn’t say much about the failed acquisition of Allurent last year, other than that it was a household name that ultimately backed out of buying the company. Jenzabar was also able to hire back nearly all of the top executives at Allurent, with the exception of CEO Graeme Grant, who took a job late last year as chief operating officer at Belmont, MA-based CQuotient, a Bain Capital Ventures-funded e-commerce startup that’s just starting to make some noise.
The new Allurent/Jenzabar operation will also try to stay tight with Allurent and ATG founder Joe Chung, who’s working on a new venture called Redstar, out to spot startup trends and turn them into companies. “I think it will be complementary,” Maginn says.