Monday, October 29, 2007

TeleSoft Invests in Nexant

Venture capital firm TeleSoft Partners said Monday that it has acquired a majority interest in Energy Software & Consulting I and II, the largest preferred shareholder in San Francisco-based Nexant, an energy sector software, engineering, and consulting firm. Financial terms of the deal were not disclosed. Nexant provides software and serviecs for the electric power industry. Nexant is also backed by The Beacon Group, Morgan Stanley Global Energy Group, Hellman & Friedman, Nth Power, MC Capital, and IBM.