Wednesday, September 19, 2007

Nextance Acquired by Versata

Redwood City-based Nextance has been acquired by Versata Enterprises, an enterprise software publisher. Financial terms of the deal were not disclosed. Nextance is a developer of enterprise contract management software. According to Versata, it will be consolidating Nextance's operations into its own. Nextance was venture backed by El Dorado Ventures, Lightspeed Venture Partners, ONSET Ventures, and Palo Alto Venture Partners. Nextance last raised a round of venture capital in June of last year, worth $10M.