(WEB HOST INDUSTRY REVIEW) — In an effort to expand its user base and add more functionality to its product line consisting of sales force automation, scheduling, service management, invoicing and reporting tools, Software as a Service provider ConnectWise (www.connectwise.com) has acquired the professional service automation assets of managed services provider CoreConnex (www.coreconnex.com).
According to ConnectWise’s Tuesday announcement, the acquisition significantly extends ConnectWise’s market share as a SaaS application provider, whose services include streamlining and integrating legacy systems, and simplifying business processes to limit expenses.
“Despite the most challenging economic times in recent memory, ConnectWise has grown exponentially in the past few quarters,” ConnectWise chief executive officer Arnie Bellini said in a statement. “Acquisitions that add to our market share, community, knowledge and support network make good business sense for us at this time. CoreConnex offers technology, business and human resources that will bring value to ConnectWise users and their bottom lines and we will continue to investigate other potential acquisitions, including companies like AutoTask.”
Founded in 1982, ConnectWise has more than 30,000 worldwide customers and is a well-established leader in the market. CoreConnex was established in 2005 and partners with numerous managed services provider and customer relationship management providers that deliver business platforms using a cloud or SaaS model.
“The trend in our industry is toward greater consolidation, interoperability and cooperation, and ConnectWise has recognized this and leveraged its position as the recognized dominant player,” CoreConnex president and CEO Frank Coker said in a statement. “We look forward to the next steps in this agreement and to the future development of complementary technologies that serve our combined customer base.”
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