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Versata closes acquisition of Nuvo

Briefs | 02/25/2008 1:03 pm EST

Versata Enterprises Inc. has finalized the acquisition of Nuvo Network Management Inc., an Ottawa-based provider of remote IT management tools. Versata acquired all of Nuvo’s outstanding shares for $0.57 per share in an all-cash transaction Total value of the deal is estimated to be $17.65 million. As a result of the transaction, Nuvo’s stock will be de-listed from the TSX Venture Exchange.
Nuvo joins Versata Software, Versata Inc., Artemis International Solutions, Gensym and Nextance – the family of Versata companies. Nuvo will continue to operate as a distinct entity within Versata.

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