Connxion plans on acquisition spree in FY11

Connxion plans on acquisition spree in FY11

OSS/BSS provider Connxion Ventures (ASX:CXN) intends to acquire a number of businesses in FY11.

In a presentation to shareholders, Connxion said it will look to acquire businesses that are accretive, and that augment its existing core businesses.

The company also plans to expand its services offering, expand further into Asia and begin cross-selling a broader range of its services to existing clients.

Connxion said it is expanding into a booming market – the enterprise SAAS market in APAC is expected to be worth US$2.3 billion ($2.49 billion) by 2012, with CRM to grow to $1.19 billion by the same time, according to Springboard Research.

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Tags Mergers and acquisitionsOSSConnxlion

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