Mar, 2003 : NaviSite Signs Agreement to Acquire Conxion

📅 March 27, 2003 - Application infrastructure management services provider NaviSite Inc. (NaviSite.com 👉 Total Reviews: 1
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Under the terms of the agreement, NaviSite will acquire Conxion Corporation through the merger of a wholly-owned NaviSite subsidiary into Conxion. NaviSite will pay $1.925 million in cash at closing. The companies have also worked together to restructure certain long-term commitments and obligations. The closing of the acquisition is subject to certain third-party approvals and other conditions.
In the last few months, says the company, NaviSite has also announced the acquisition of ClearBlue Technologies Management Inc. in December and the purchase of Avasta Inc. in February.
"Today, NaviSite is a service company," said Arthur Becker, CEO of NaviSite. "We are carefully working to build a profitable, leadership position in the Managed Services Industry. The acquisition of Conxion is another important step in the execution of the new NaviSite market strategy. Conxion brings complementary skills, innovative self-service software products, as well as a strong and loyal customer base."