Venture-backed Tantalus buys venture-backed Energate

Tantalus Systems Corp has acquired Energate Inc, an Ottawa-based provider of interactive demand management solutions. The deal's financial terms were not disclosed. Tantalus, which has principal offices in Burnaby, British Columbia, and Raleigh, North Carolina, said the acquisition expands its smart grid application portfolio as well as its addressable market opportunity. Founded in 2004, Energate has been backed by Cycle Capital Management, among other investors. Tantalus is also venture-backed. Earlier this year, it raised $6 million in follow-on funding from several investors, including CT Innovations and Vareco Holdings.

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