"The market for commercial web-based applications using PHP technologies is growing very fast in all geographies around the world," said Harold Goldberg, CEO at Zend Technologies. "Zend benefits from its strong position in this market, with an expanding list of major companies as customers and partners. We wanted to ensure that we continue our expansion and are therefore pleased to begin this partnership with TriplePoint Capital, a firm whose innovative approach closely aligns with our strategies in the web application market."

Zend is the company behind the popular Zend Studio IDE and the widely used Zend Framework rapid application development platform.

Chris cites both this News.com article and Zend's own press release on the topic:

The new funds will enable us to expand faster in emerging geographical markets, accelerate our product development and extend the services organization to meet the demands of our growing number of enterprise PHP customers.

He looks at it positively, noting that what's good for Zend is, ultimately, good for PHP - and this is very good for the company.