Wednesday, September 19, 2007

Versata Acquires Privately Held Nextance

Versata Enterprises Inc., a publisher of enterprise software, announced Tuesday that it has acquired Nextance Inc., a privately held developer of enterprise contract management software. Terms of the deal were not disclosed. However, Versata said it funded the transaction without incurring debt. Nextance's board of directors and stockholders unanimously approved the transaction, Versata added. The Austin, Texas-based company explained that it intends to operate Nextance as a stand-alone corporation within its family of software businesses. However, Versata said it will consolidate Nextance’s operations. Nextance is currently based in Redwood City, Calif.