Mon, Sep. 12, 9:59 AM
- OpenText's (OTEX +7.6%) offer for the ECD (NYSE:DVMT) business represents 2.7x ECD FY 2015 revenue ($599M).
- Looks to onboard the acquisition to OpenText's operating model within the next 12 months.
- Transaction expected to close within 90 to 120 days, subject to regulatory approval and formal closing procedures.
- Mark J. Barrenechea, OpenText CEO and CTO: "We are at the beginning of the Digital revolution where extreme connectivity, automation, and computing are converging. This acquisition further strengthens OpenText as a leader in Enterprise Information Management, enabling customers to capture their Digital future and transform into information-based businesses. We are very excited about the opportunities which ECD and Documentum bring, and I look forward to welcoming our new customers, employees, and partners to OpenText."
- Conference call
- Press release
Mon, Jun. 20, 10:38 AM
- Open Text (OTEX +2.4%) agrees to acquire customer communications software management assets from HP (HPQ +0.9%) for ~$315M.
- OTEX says the deal includes HP Extream, HP Output Management, HP TeleForm and HP LiquidOffice, which are collectively used to manage customer communications, process automation and document delivery.
- OTEX expects the acquired businesses to generate $110M-$125M of annualized revenue but be immediately accretive to earnings and on the OTEX operating model by the end of Q1 FY2017.
Thu, Jun. 2, 2:55 PM
- OpenText (OTEX +0.5%) is continuing its recent M&A spree by acquiring Recommind, a provider of cloud/SaaS eDiscovery software and information analytics services, for $163M.
- Recommind's offerings complement OpenText's content management software, and will also increase the company's cloud and analytics exposure. OpenText forecasts Recommind will produce $70M-$80M/year in revenue, and be immediately accretive to EPS. The deal is expected to close in FQ1 (calendar Q3).
- The deal follows a $500M debt offering. It also comes on the heels of OpenText's $170M purchase of web content management and contact center optimization software from HP, and its $100M purchase of ANXeBusiness, a provider of cloud information exchange services for the automotive and healthcare industries.
Mon, May 2, 9:45 AM
- OpenText (OTEX +0.7%) has closed on a pair of deals: It's wrapped up an acquisition of ANXeBusiness, cloud provider to automotive and healthcare, for about $100M.
- It's also closed on its purchase of some HP customer experience software assets. It had agreed to take on those solutions for about $170M total with those businesses generating $85M-$95M in annualized revenue, immediately accretive.
- The ANX acquisition is expected to generate about $30M in annualized revenues, also immediately accretive. That firm will be integrated into the OpenText Business Network.
- Now read Open Text: When A Miss Is Viewed By Investors As A Beat - And Why »
Mon, Apr. 18, 9:42 AM
- Open Text (OTEX +0.7%) has agreed to acquire customer experience software assets from HP (HPQ -0.5%), for about $170M total.
- The deal includes content management solution HP TeamSite, HP MeediaBin, HP Qfiniti, HP Explore, HP Aurasma and HP Optimost. Most of the assets complement Open Text's Customer Experience Management and Cloud offerings.
- The Customer Experience software business is expected to generate $85M-$95M of annualized revenues and be immediately accretive. The deal should close in Q4.
- Now read Open Text - An Outstanding Vision In Conservative Clothing »
Oct. 9, 2015, 8:18 AM
- Software company Daegis (NASDAQ:DAEG) +93% premarket after agreeing to be acquired by OpenText (NASDAQ:OTEX) for $0.82/share, or ~$13.5M in cash.
- DAEG offers products for information governance, application migration, data management and application development; the company says ~20% of Fortune 100 companies use its solutions.
Jan. 5, 2015, 2:42 PM
- Open Text (OTEX -1.7%) has acquired Informative Graphics (IGC), a maker of software for viewing, annotating, redacting, publishing, and collaborating on corporate documents. Terms are undisclosed.
- IGCs software will be added to Open Text's bread-and-butter content management (ECM) software portfolio, and also "extended into other OpenText suites." IGC's Brava document viewing/collaboration software is already deployed by 250+ OpenText customers.
- The purchase comes on the heels of OpenText's $330M deal to acquire business intelligence/analytics software vendor Actuate.
Dec. 5, 2014, 9:38 AM
- Through a tender offer approved by both companies, Open Text (NASDAQ:OTEX) is acquiring business intelligence/analytics software vendor Actuate (NASDAQ:BIRT) for $330M ($6.60/share) in cash, or an enterprise value of $272M. The price represents an 89% premium to Actuate's Thursday close.
- The deal is expected to close in Q1 2015 (Open Text's FQ3), and be accretive in FY15 (ends June '15).
- Through it, Open Text enters a BI market that's seeing healthy growth amid broader corporate interest in analytics and data mining solutions, but is also very competitive; IBM, SAP, Oracle, Microsoft, Tableau (growing rapidly), and Qlik are among the other participating firms.
- In a presentation (.pdf), Open Text declares Actuate "the leader in personalized analytics and insights," talks up the ability to cross-sell Actuate's products to Open Text's existing content management/BPM software base, and suggests there's also an opportunity to cross-sell to Actuate's 3.5M developers.
Nov. 5, 2013, 8:32 AM
- Open Text (OTEX) acquires B2B cloud integration company GXS Group for $1.165B ($800M in debt, $265M in cash, $100M in equity).
- The acquisition aims to marry Open Text's Information Exchange portfolio with GXS's B2B integration and managed services.
- GXS had 2012 revenue of ~$485M.
- PR, conference call at 8:30 am ET
Sep. 19, 2013, 11:07 AM
- IBM (IBM -0.2%) has acquired Daeja Image Systems, a U.K.-based developer of software for viewing/annotating scanned documents and images.Terms are undisclosed. (PR)
- IBM asserts Daeja's technology "makes it easy to view very large files," such as car accident photos and patient x-rays. The company will be added to IBM's sizable and growing enterprise content management (ECM) unit, which already offers document imaging/capture tools (among other products).
- The ECM unit's rivals include Open Text (OTEX - also offers imaging software) and EMC's Documentum unit.
Aug. 16, 2013, 9:53 AM
- OpenText (OTEX +0.2%) buys Cordys, a Dutch business process management software (BPM) company. The acquisition will allow OpenText to add " a 100% native cloud-based BPM platform and PaaS solution" to its product offerings.
- The Canadian enterprise information management software developer has expanded through a string of acquisitions. It purchased MetaStorm for $182M and Global 360 for $260M in 2011, EasyLink for $310M in 2012, and a slew of other companies in the last 5 years.
May 1, 2012, 5:23 PM
More on Open Text/EasyLink: Open Text touts how EasyLink's secure communications software complements its document management software. The deal is an attempt to better compete against rivals such as IBM and EMC, who sport broader product lines. Along with the merger, Open Text is reporting FQ3 revenue of $292.3M (+11% Y/Y) and EPS of $1.01, which missed consensus by $11.9M and $0.15. Like others, it blames sales execution. OTEX -3.7% AH. (PR)| May 1, 2012, 5:23 PM
May 1, 2012, 4:55 PM
Aug. 19, 2011, 8:40 AMContent management software firm Open Text (OTEX) rose 4.8% yesterday, as H-P's (HPQ) $10B acquisition of Autonomy fed hopes that it, too, would be snapped up. TD Securities has long considered Open Text a buyout target, but thinks the Autonomy deal is just mildly positive for it, given that the two companies are only loosely comparable. | Aug. 19, 2011, 8:40 AM