Nexant, Inc., a San Francisco, CA-based provider of intelligent grid software and clean energy solutions, has added Dr. Romesh Wadhwani of Symphony Technology Group (STG) to its existing investors and closed its $50m financing round.
Dr. Romesh Wadhwani, the founder, chairman, and CEO of STG, a private equity firm investing in software and software services companies, has joined TeleSoft, Oak Investment Partners, Intel Capital, and Beacon (see news).
Nexant provides software and consulting services for the intelligent grid. It has been developing and commercializing technology solutions enabling utilities, power producers, and retailers to operate and deploy new technologies and applications in the emerging grid.
The company operates 27 offices in the U.S., Europe, the Middle East, Asia, and Africa. Its clients include major utilities, transmission and distribution system operators, chemical and petroleum majors, financial institutions, government agencies and Fortune 500 companies.