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by Diane Himes, MA Editorial Staff Posted on Sunday, November 25, 2007 4:00:00 AM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Consona plans to maintain its momentum with micro-vertical acquisitions, uninterrupted by less-than-favorable market conditions. |
| Keywords: | Consona acquisitions, Consona acquisition |
Consona Corp., an amalgamation of ERP and CRM vendors serving small and mid-sized companies, is one of the enterprise software companies built up using a growth-through-acquisition model. But while some vendors that rely on private equity to sustain their acquisitive strategy have been thwarted recently by weak market conditions, Consona has no plans to pull back on the reins. Consona, formerly known as M2M Holdings, was launched formally in 2003 when equity firm Battery Ventures acquired and took ERP provider Made2Manage Systems private. The company received an additional $50 million early in 2006 when Thoma Cressey Equity Partners took a minority stake in the company. After a string of more than 10 acquisitions and having amassed a customer base of 4,500, Consona expects to finish 2007 with $140 million in revenue. The company made $30 million the year Made2Manage went private. At its recent annual user conference in Orlando, CEO Jeff Tognoni stressed that Consona's approach to acquisitions — targeting established, micro-niche vendors with a razor-sharp focus on customer intimacy — is the key to its endurance. [Click to continue] |
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