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Seaport Capital invests in software company Rutherford and Associates

Seaport Capital LLC, through its Seaport Capital Partners V fund, made a strategic investment in U.S. route accounting software company Rutherford and Associates Inc.

The investment, details of which were not disclosed, will enable Rutherford and Associates to develop its eoStar platform and further expand its global client base, according to a statement.

Rutherford and Associates also named Jim Clishem CEO, replacing company founder Mike Rutherford who will move to the full-time role of chief technology officer. The company will keep the rest of its leadership team.

Seaport Capital is a New York-based private equity firm that focuses on investing in communication infrastructure and services, business and information services, and media companies.