Monday, June 12, 2006

Onyx CRM to be acquired by Made2Manage

Onyx Software becomes the latest catch for Made2Manage, which continues to build out its portfolio of software offerings. Onyx is one of the last remaining standalone CRM vendors.

The deal is worth about $92 million, all cash, and is expected to close in Q3.

In picking up Onyx, M2M is making an exception to its strategy of focusing on niche industry solutions. The deal appears simply to provide M2M with a good horizontal CRM product that it can offer to new prospects or cross-sell to its installed base.

M2M plans to operate Onyx as a separate business unit.

Related posts
Making money in software with a niche-industry strategy (overview of M2M's strategy)

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