Zephyr Associates Inc., a software developer at Zephyr Cove along the shores of Lake Tahoe, has been acquired by Kemmons Wilson Companies, a privately-held company located in Memphis, Tenn. Zephyr produces analytical software tools used by financial investors.
Terms of the acquisition weren't disclosed.
"Zephyr is committed to being in Tahoe and in Nevada," says Charles Martin, chairman and chief executive officer. The company employs about 25 at its Zephyr Cove location and will add another 10 to 15 in the future.
The company will increase its operations in Europe and expand national sales by both region and product, he adds. Plus, several new products are also under development.
Founded in 1994 by Steve Hardy, now retired, Zephyr Associates offers software products StyleADVISOR, AllocationADVISOR and CompositeADVISOR. Investors use them to analyze investment managers, mutual funds, financial markets, and investment portfolios.
Kemmons Wilson Companies was established by the late Kemmons Wilson, who founded Holiday Inns. The company now is run by his three sons.
Martin once served as chief investment officer at Kemmons.
