Wednesday, February 25, 2009

Versata Buys Alterpoint

Austin-based Versata Enterprises, a developer of enterprise software, announced this morning that it has acquired fellow Austin-based software developer Alterpoint. Financial terms of the acquisition were not disclosed. Versata said that Alterpoint, which provides network management, security, and compliance tools, will operate as a stand-alone entity within the firm. Alterpoint was venture backed by more than $28M in funding from Austin Ventures, JK&B Capital, and Palomar Ventures. According to Versata, AlterPoint will have its own dedicated customer service and product team, with Versata exec Danielle Royston heading up the new unit.