Monday, July 14, 2008

Local VC-Backed Active Network acquires Hy-Tek

By Mass High Tech Staff

Local venture capital firm-backed Active Network Inc. reports that it has purchased Hy-Tek Sports Software, a technology and marketing business.

San Diego, Calif.-based Active Networks, which has an office in Boston, operates technology and marketing services for online communities, particularly recreational activity communities using online registration. The company is financed by several investors, including Canaan Partners, which operates an office in Westport, Conn., ABS Ventures, North Bridge Venture Partners and Charles River Ventures, which all operate offices in Waltham.

Hy-Tek Sports Software is based in Lakewood, Fla.

Financial terms of the deal were not disclosed.