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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Canadian Heritage has said that the Conservative government will decide how best to resolve the funding impasse facing the Canadian Television Fund. The CRTC is expected over the next two months to release its decision from CTF hearings, but in an unusual move, Heritage minister Josée Verner issued an Order in Council today asking the CRTC to report and make recommendations directly to her department on the CTF."Our government takes the need for change at the CTF seriously and values the CRTC’s input," Heritage minister Josée Verner said in a statement.

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Research in Motion Ltd. announced this morning that it is upping its fourth quarter Q4 net subscriber additions forecast by between 15% and 20% higher than the 1.82 million net additions the Waterloo ON-based company previously predicted. RIM, whose fiscal year ends on March 31, expects to have approximately 14 million subscribers by the end of the year.

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The CRTC today approved Pelmorex Communications Inc.‘s application for a broadcasting licence to operate the Category 2 specialty service The Environmental Network. The channel will be devoted to programming related to climate change, the environment, meteorology, hydrology, natural disaster and related matters. The Environmental Network, and organization committed to a proactive approach to environmental management, opposed the application on the grounds that the proposed channel would replicate the organizations name. Pelmorex responded that its name was a working title only and may or may not be used for the specialty service.

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