Receive our most important stories in your inbox every day.
San Antonio holding company Dura Software has acquired its second company in a little more than a month with the addition of California-based 6Connex, an online events platform. Terms of the deal were not disclosed.
Dura now comprises three software companies, all of which have moved their headquarters to San Antonio. The Soledad Street-based holding company announced the purchase of a Danish email platform in late August.
6Connex is a cloud-based platform on which users can host online events, such as webinars, virtual trade shows, and e-learning courses. The company, which launched in 2009, is comprised of about 50 employees, according to LinkedIn, and will keep a presence in the San Francisco Bay Area as it builds its San Antonio HQ.
6Connex customers include enterprise cybersecurity company SonicWall, investment management company Blackrock, Swedish telecommunications conglomerate Ericsson, and health insurance provider Anthem.
The company will hire locally in the coming months, according to the release.
Earlier this year, Dura Software registered a $1.9 million debt and equity offering with the U.S. Securities Exchange Commission in an aim to bolster its roster of software-as-a-service companies.
“The acquisition of 6Connex has excited everyone here at Dura,” Dura CEO Paul Salisbury said in a press release. “It is a great product, which customers rave about, that fulfills a need that we think will continue to grow. This niche business is a perfect fit for what we’re trying to create here at Dura, and we are eager to help the company reach its full potential.”
Salisbury, a former Rackspace executive co-founded Dura in November 2017 with serial tech entrepreneur Michael Girdley, whose ventures include software development trade school Codeup and early-stage venture firm Geekdom Fund. Salisbury has said the holding company’s focus is to grow the companies it buys with no intention to sell them. Its strategy is to acquire software firms with products that are vital to their clientele.
Dura acquired its first company in June 2018, scooping up Moki Mobility, which was previously based in Salt Lake City. Moki is an administrative platform that seeks to manage, secure, and maintain mobile device software for businesses. In August, Dura acquired Nordic IT, whose cloud-based email service is widely used in the maritime shipping industry, and moved its headquarters from Copenhagen to San Antonio.
Dura officials have said the firm intends to acquire anywhere from four to five companies a year for the next several years.