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Nexus-backed Eka Software acquires Canadian tech firm

  • Mirzaan Jamwal
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Nexus Venture Partners-backed Eka Software Solutions, an Indian commodity trading software provider, has acquired EnCompass Technologies, a Canadian energy and commodity trading technology firm.

The details of the transaction were not disclosed. Calgary-based EnCompass provides Energy Transaction and Risk Management (ETRM) software to the energy trading industry, as well as a multi-commodity and FX transaction management system. The firm's customers are based in North American markets.

Nexus first invested $10 million in EKA, which provides trading and risk management technology for the global commodity markets, in October 2009. The company has over 270 staff with offices in Asia Pacific, Europe and North America.

"With the addition of EnCompass, Eka will now deliver the most comprehensive ETRM suite to its customers," said Manav Garg, founder and CEO of Eka in a statement.

All employees of EnCompass have joined Eka, and the two co-founders, CEO Andy Bout and COO Stewart Brightman, will take key leadership roles in the combined organization.

"The natural synergies between the Eka and EnCompass product suites as well as the companies' advanced R&D will underpin our plans for global strategic growth" said Bout.

 

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