Ottawa-based NUVO Network Management Inc. has been acquired by Austin, Tx.-based Versata Enterprises Inc. in a cash deal worth approximately $17.7 million.
Versata said the Canadian managed service provider will continue to operate under the NUVO title as a standalone corporation within Versata’s consortium of software and services businesses. Phil Weaver, president and CEO at NUVO, said his company will “benefit from the leverage offered by a larger parent similarly focused on IT solutions.”
Versata said NUVO customers will be able to take advantage of its global scale and enterprise software capabilities to receive more options for their IT services. Also, Versata said NUVO’s expertise in network management and hosting will help reduce its IT costs and provide stronger services to its clients.