DAVENPORT, Iowa — ProMax Unlimited announced the first change in ownership structure in the company’s 23-year history.

“I’m very excited to announce that CTO Darian Miller, who has worked side-by-side with me for 20 years, and COO Shane Born, who has been here 14 years, have both acquired minority stakes in the company,” said CEO John Palmer, who had been the sole owner since he founded ProMax in 1994.

Miller, who also serves as head programmer, acquired a 10% ownership share after leading ProMax’s product development efforts since 1997.

“John Palmer invites his entire team to treat the company as their own. For two decades, I have embraced that attitude and worked hard to expand the functionality and feature set of ProMax. This new step forward renews that commitment and drive to make ProMax the best the industry has to offer,” Miller said. “For any company, but particularly for a software company, we’ve had terrific longevity and continuity, and I think that speaks to how well this team works. We’re always moving forward, making progress.”

Born, who joined ProMax in 2003, acquired a 7% stake in the company.

“I couldn’t be more excited to have this opportunity to invest in something I completely believe in,” said Born. “We have an incredible team, an awesome product, great vendor relationships, excellent customers, and some game-changers coming in 2017. I’ve worked with many of our 100-plus employees for over a decade, and yet they continue to amaze me. The combination of brilliance, hard work and passion is exceptionally rare.”