Austin-based Dachis Group (social networking technology company) has purchased Austin-based Powered Inc (web software company) for an undisclosed amount. Both companies are funded by Austin Ventures, who is also, you guessed it, Austin-based. This purchase continues the string of recent acquisitions for Dachis Group. Powered is Dachis’ seventh purchase since its inception. Jeffery Dachis, CEO of Dachis Group, will continue as CEO, while Powered’s CEO, Ken Nicolson, will leave the company.