We just learned Eagle Broadband (AMEX: EAG) has acquired Connex Services’ customer base, which is expected to add about 50 I.T. clients to Eagle’s current base, as well as push I.T. revenue up by about $600,000. It’s a good fit, as Connex offers something along the same lines as Eagle…..management of broadband-based data, voice, and video services.

Anything to boost revenues is good - even if it’s a modest $600,000. However, it appears as if Eagle CEO Dave Wicek sees the same bigger picture we do. In our opinion, the ‘first’ customer is usually the toughest to get. Every one after that seems to be easier to get on board. So, the current Connex customer base can also act as a springboard to introduce other services Eagle provides. We think the company should be able to take this relatively small foothold and expand its footprint by quite a bit.

The deal is doesn’t require Eagle to assume any of Connex’s debt. Instead, Eagle will be issuing about 1.2 million unregistered EAG shares to Connex.

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