TeleSoft Backs Nexant

TeleSoft Partners has acquired a majority interest in Energy Software & Consulting I and II, which combined is the largest preferred shareholder in Nexant, an energy software, engineering and consulting firm. No financial terms were disclosed. Other Nexant shareholders include The Beacon Group, Morgan Stanley Global Energy Group, Hellman & Friedman, Nth Power, MC Capital, and IBM.

 

PRESS RELEASE

TeleSoft Partners, a Silicon Valley venture capital firm, announced it has acquired a majority interest in Energy Software & Consulting I and II which, on a combined basis, is the largest preferred shareholder in Nexant, Inc., an energy sector software, engineering, and consulting firm.

During the past decade, TeleSoft has raised over $600 million to help develop more than 60 next-generation technology companies. TeleSoft's investment in Energy Software & Consulting I and II signals its entry into the global energy sector.

Nexant has pioneered the development of specialized software products and services for the electric power grid and associated electric power markets, as well as for the global petroleum and chemical industries. A number of its advanced power network modeling and analysis tools are regarded as industry standards for power systems operations, planning, and control