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Izzi Software Acquires CNX Corporation, Extends Reach into IBM Power Ecosystem

1. Izzi Software acquires CNX Corporation to enhance IBM Power system solutions. 2. CNX specializes in accelerating app development for IBM Power users. 3. The acquisition aims to expand Valence framework support and development. 4. CNX's expertise will help unlock value for IBM Power ecosystem clients. 5. Izzi Software aims to strengthen its position in the software industry.

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FAQ

Why Bullish?

The acquisition of CNX aligns with IBM's ecosystem growth, which may enhance IBM's overall attractiveness in the market, similar to past strategic acquisitions that enhanced ecosystem value.

How important is it?

This acquisition signifies a strategic enhancement in IBM's Power ecosystem which can drive long-term growth prospects for IBM as they benefit from increased innovations.

Why Long Term?

The integration of new capabilities via CNX may take time to reflect in IBM’s growth, as seen with past integrations that strengthened market positions only after substantial investment and development.

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-Company to expand development and improve support for users of flagship Valence framework MINNEAPOLIS--(BUSINESS WIRE)--Izzi Software, a leading provider of innovative enterprise software solutions, is pleased to announce the acquisition of Chicago-based CNX Corporation, a technology company specializing in accelerating app development for users of IBM Power Systems. This strategic move marks a significant milestone for Izzi as it expands its capabilities and offerings into the IBM Power ecosystem. The company launched in 2024 in the IBM Z sphere with the acquisition of Virginia-based ColeSoft. As part of the acquisition, Izzi will grow the CNX team to empower current and future customers to maximize the value of their Valence investment. Richard Milone, Co-founder and Managing Director of CNX Corporation, expressed his enthusiasm about the acquisition, stating, “This acquisition could not have come at a better time because we are at a critical stage in our growth. We have had dozens of new customers over the last few years, and we needed a way to build our team at an accelerated rate to meet the market need. This acquisition will allow us to grow in multiple departments and provide even more value to the IBM Power community.” Jennifer Nelson, CEO of Izzi Software, says, “We are thrilled to welcome CNX Corporation into the Izzi Software family. This acquisition not only strengthens our position in the software industry but also marks our entry into the IBM Power ecosystem. CNX Corp is an innovative and growing company with a modern product line that resonates in the Power marketplace, and we look forward to leveraging CNX Corporation's expertise to deliver innovative solutions and enhanced services to our clients.” About Izzi Software Izzi Software was founded by experienced M&A experts and is led by a team with deep expertise in the IBM Power and IBM z environments. The company is owned by Big Band Software, which has an impressive track record in buying and running B2B SaaS businesses that are growing and profitable, with ARR in the range of $2M to $10M. About CNX Corporation Headquartered in Chicago and founded in 1996, CNX Corporation develops the Valence Framework, a comprehensive software suite for IBM Power systems. Valence enables businesses to modernize legacy applications and create new applications, with its flagship Nitro App Builder offering a low-code solution for fast, user-friendly development. By allowing developers to build and deploy modernized or new applications much faster, Valence significantly boosts productivity, delivering substantial value to organizations using IBM Power systems. More News From Izzi Software

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