Combination of Onyx and KNOVA Launches Consona CRM and Creates First and Only Fully Integrated Operational and Collaborative CRM Offering
INDIANAPOLIS â€” MAR. 14, 2007 â€” Consona Corporation (Consona, formerly known as M2M Holdings, Inc.), the privately held holding company jointly owned by Battery Ventures and Thoma Cressey Bravo, today announced it has closed on its acquisition of KNOVA Software, Inc. (KNOVA), a leading provider of knowledge management (KM) and service resolution management (SRM). The all-cash transaction announced in December 2006 was valued at $5.00 per share, or approximately $47 million. With the close of this transaction, KNOVA has completed its transformation to a private company after being publicly traded on the OTC Bulletin Board under the KNVS symbol since May 2005. KNOVA is Consona’s sixth acquisition in the last eighteen months (past acquisitions include Cimnet Systems, Inc., AXIS Computer Systems, Inc., Encompix, Inc., Intuitive Manufacturing Systems, Inc., and Onyx Software Corporation).
The acquisition effectively launches Consona CRM, the new name for the CRM-focused operating division of Consona Corporation, which now houses sister product lines KNOVA and OnyxÂ® CRM. Pete Strom, general manager of Consona CRM, will oversee KNOVA going forward. In his role, Strom will be assisted by members of the KNOVA management team to profitably grow the business. As part of Consonaâ€™s proven operating model, the complementary KNOVA and Onyx solutions will retain their brand identity and be sold both separately and together to new customers via a shared sales force. As such, KNOVAâ€™s KM and SRM solutions will continue to be sold, maintained, supported and enhanced to augment all popular CRM platforms, includingâ€”but not limited toâ€”the Onyx solution. The model also ensures that existing customers of both products will be served by dedicated, product-specific account management, development, customer support, and professional services teams.
“The combination of Onyx and KNOVA will create the first and only operational and collaborative CRM offering available in the market, and we canâ€™t be more excited about that,” said Strom. “Future releases of KNOVA and Onyx will deliver a completely unique CRM solution to enterprises of all sizes, featuring adaptive but tightly integrated customer relationship management, business process management, business intelligence, and service resolution management functionality.”
Beyond a stronger value proposition for both product lines, Strom cited a number of benefits to operating the Onyx and KNOVA businesses together as Consona CRM. “Once the integration is completed,” said Strom, “numerous cross-selling opportunities will open upâ€”particularly for Onyx customers who are seeking guided selling functionality [from Active Decisions] or strengthened Web self-service and service resolution management functionality. And the advantages donâ€™t stop there. Both businesses now have a broadened worldwide sales and services presence, as well as additional industry, product and process expertise to offer customers.”
Jeff Tognoni, CEO of Consona, stated that KNOVAâ€™s privatization also will bring about a number of advantages for KNOVA and its customers. “As a private company within the Consona family of companies, KNOVA will be free from the constraints of being a public company and have improved access to investment capital for strategic initiatives. And even more compelling is how our aggressive growth strategy for Consona CRM will add to the KNOVA business throughout the year.”