NEON Acquires Convoy for $42 Million
- By Scott Bekker
- June 08, 1999
NEON Inc. (www.neonsoft.com
) has announced it's entered into an agreement to acquire privately-held, application integration provider Convoy Corp. (www.convoy.com
) for approximately $42 million in stock.
NEON, or New Era of Networks, not only gets added expertise as an EAI provider but the elimination of what may have become a potential competitor. Convoy has specialized in migrating data to and interface with ERP applications, especially PeopleSoft. The company had annual revenues of $10.4 million in the last fiscal year.
"Our customers often ask us to integrate PeopleSoft applications to legacy software, other packages such as SAP, and to the Internet," says Rick Adam, CEO for NEON. Now the company is hoping to add those capabilities to its present line of solutions such as adapters, event managers and integrators. -- Brian Ploskina
Scott Bekker is editor in chief of Redmond Channel Partner magazine.