Onyx plans to incorporate the Visuale BPM technology's graphical workflow and business rule design tools into the Onyx CRM platform so that non-technical users can more easily design and modify business processes in the application.
Visuale BPM technology is built on Microsoft .Net standards and supports Microsoft SQL Server and Oracle Database, which makes it compatible with existing Onyx technology, Onyx said.
Onyx will make an initial payment of $2 million in cash and stock, to be followed by $1 million upon the one-year anniversary of closing. Onyx will make minimum royalty payments of $500,000 in each of the subsequent two years.
Also Wednesday, shares of Onyx spiked as much as 48% after the company said it would report break-even or near break-even results on a non-GAAP basis in the first quarter.