CDC Software is trying to take over fellow customer relationship management (CRM) supplier Onyx Software for around $50m (£30m).
Hong Kong-based CDC said it was attempting to meet with the board of US-based Onyx, while Onyx said it was considering CDC’s unsolicited offer. Loss-making Onyx targets the middle market with its software. CDC acquired CRM software company Pivotal two years ago, which Onyx was interested in buying too.
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CDC sells its software worldwide but specialises in the Asia-Pacific market. Before announcing its interest in buying Onyx, the target firm had a market capitalisation of around $67m. This has risen since the bid.
Onyx has not said when it will make a decision on CDC’s offer.