Brook portfolio company, Reality Wave sold to Aveva (LSE:LVV)
BOSTON – Brook Venture Partners announces that on March 31st it closed on the sale of portfolio company RealityWave of Cambridge, MA. The buyer, London Stock Exchange company Aveva (LSE:AVV) is one of the fastest growing life cycle engineering and IT solutions/services companies in the world. Representatives of the buyer indicated they purchased the company as part of their strategy to grow Aveva’s presence in the US. Aveva has announced it plans to integrate the RealityWave’s VizStream software platform into Aveva’s VNet Navigator plant life cycle management system.
RealityWave will maintain its offices in Cambridge Massachusetts and will retain the majority of its management team and staff. The company designs, produces and sells a proprietary and patented software platform of streaming data and complex 3-D and CAD models over the internet which allows users to collaborate quickly and efficiently.
About Brook Venture Partners
Brook Venture Partners provides expansion stage venture capital to information technology and medical technology companies based in the Northeastern United States. Brook is headquartered outside Boston in Wakefield, Massachusetts and has an office in Albany, NY. For more information, call 781-295-4000 or visit www.brookventure.com.