| Onyx Software Corp. Nasdaq...ONXS, a customer management software specialist, on Tuesday said it agreed to be bought by privately held M2M Holdings Inc. for $92 million, or $4.80 a share, in cash. Shares of the company were up almost 13 percent at $4.71 in morning trade on the Nasdaq. After the acquisition, Onyx will operate as a separate unit of enterprise software and services provider Made2Manage Systems Inc., a primary asset of M2M Holdings. The deal is expected to close in the third calendar quarter of 2006, the company said in a statement. Onyx had last December received an unsolicited bid by CDC Corp. , operator of the China.com Web site, to buy parts of the company. Onyx rejected the bid saying it was not seeking a sale. In April, Onyx, which reported losses in the past two quarters, hired Piper Jaffray to evaluate strategic opportunities. |
