Eagle Broadband ( EAG) acquired the customer base of Connex Services of Houston in exchange for 1.2 million shares.

League City, Texas-based Eagle said the acquisition consists of more than 50 Connex clients, together currently generating more than $600,000 in annual revenue. The acquisition does not require Eagle to assume any Connex debts or liabilities.

Upon listing approval of the American Stock Exchange, Connex will receive 1,203,774 shares of unregistered Eagle Broadband common stock, 754,717 of which will be registered for resale by Connex.

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