Enterprise software provider beefs up customer relationship management offering with addition of Onyx to its portfolio
Bellevue, WA — June 7, 2006 — Onyx Software, a provider of customer management and process solutions for the enterprise, has signed a definitive agreement to be acquired by privately held M2M Holdings Inc., the holding company that owns enterprise software company Made2Manage Systems.
M2M Holdings, which is jointly owned by Battery Ventures and Thoma Cressey Equity Partners, is acquiring Onyx in an all-cash transaction valued at approximately $92 million. The parties anticipate closing the transaction in the third calendar quarter of 2006, subject to shareholder approval and customary conditions.
Upon closing of the transaction, Onyx would operate as a separate business unit of Made2Manage Systems, which said it would continue to support the Onyx product line.
"Entry into the CRM market enhances Made2Manage Systems' status as a provider of enterprise software and services to multiple industries," said Jeff Tognoni, CEO of both M2M Holdings and Made2Manage Systems, "and our consolidation model — under which Onyx will continue to service and grow its distinct markets, fully backed by the considerable investment resources of our private equity partners — provides a compelling future for the new combined entity."
Made2Manage Systems currently serves more than 2,200 customers across a variety of manufacturing and distribution industries in 20 countries from 13 regional offices across North America, Europe and Asia.
Onyx claims over 1,300 customers in 50 different industries, with strong representation in financial services, healthcare, contact center, high technology and the government sector.
Additional Articles of Interest
— Long-time e-procurement users share their best practices for driving value in an article that highlights initiatives underway at leading manufacturers. Read more in "The Veterans," cover story in the April/May 2006 issue of Supply & Demand Chain Executive.
— Financial accountability laws offer an opportunity to elevate the importance of Supply Chain to the C-level suite. Find out more in "The Impact of Sarbanes-Oxley on Supply Chain Management," in the April/May 2006 issue of Supply & Demand Chain Executive.
Bellevue, WA — June 7, 2006 — Onyx Software, a provider of customer management and process solutions for the enterprise, has signed a definitive agreement to be acquired by privately held M2M Holdings Inc., the holding company that owns enterprise software company Made2Manage Systems.
M2M Holdings, which is jointly owned by Battery Ventures and Thoma Cressey Equity Partners, is acquiring Onyx in an all-cash transaction valued at approximately $92 million. The parties anticipate closing the transaction in the third calendar quarter of 2006, subject to shareholder approval and customary conditions.
Upon closing of the transaction, Onyx would operate as a separate business unit of Made2Manage Systems, which said it would continue to support the Onyx product line.
"Entry into the CRM market enhances Made2Manage Systems' status as a provider of enterprise software and services to multiple industries," said Jeff Tognoni, CEO of both M2M Holdings and Made2Manage Systems, "and our consolidation model — under which Onyx will continue to service and grow its distinct markets, fully backed by the considerable investment resources of our private equity partners — provides a compelling future for the new combined entity."
Made2Manage Systems currently serves more than 2,200 customers across a variety of manufacturing and distribution industries in 20 countries from 13 regional offices across North America, Europe and Asia.
Onyx claims over 1,300 customers in 50 different industries, with strong representation in financial services, healthcare, contact center, high technology and the government sector.
Additional Articles of Interest
— Long-time e-procurement users share their best practices for driving value in an article that highlights initiatives underway at leading manufacturers. Read more in "The Veterans," cover story in the April/May 2006 issue of Supply & Demand Chain Executive.
— Financial accountability laws offer an opportunity to elevate the importance of Supply Chain to the C-level suite. Find out more in "The Impact of Sarbanes-Oxley on Supply Chain Management," in the April/May 2006 issue of Supply & Demand Chain Executive.
- More articles about Made2Manage Systems.
