Gunderson Dettmer client Azul Systems, a developer of Java runtime products, announced it will receive $340 million in a strategic transaction with Vitruvian Partners.

In the announcement of the transaction Bill Coleman, Vitruvian Special Partner and Azul’s new Chairman of the Board, said "The Java market is rapidly evolving as open source offerings based on OpenJDK accelerate to address high-performance, mission-critical cloud, IoT and 5G market opportunities. Azul is uniquely positioned to continue the acceleration of its growth, and I’m thrilled to be a part of this special company and very excited to help it achieve its aggressive growth goals."

The Gunderson Dettmer deal team was led by corporate partner Ivan Gaviria, and included corporate associates Paul Sullivan, William Haynes and Amy Luong, IP partner Gina Marek and IP associates Emily Lieberman and Ashley Nakamura, executive compensation and benefits associate Laurel Fedder, tax partner Jaime Narayan and paralegal Meredith Burke.