WATERLOO, Ontario, April 18, 2016 /CNW/ -- Open Text
Corporation (NASDAQ: OTEX) (TSX: OTC), a global leader in
Enterprise Information Management announced today it has entered
into a definitive agreement to acquire certain customer experience
software and services assets from HP Inc. (NYSE: HPQ). The software
assets acquired include HP TeamSite, a modern multi-channel digital
experience management platform for web content management, HP
MediaBin, a digital asset management solution, HP Qfiniti, an
intelligent workforce optimization solution designed to improve
enterprise contact center management, as well as HP Explore, HP
Aurasma, and HP Optimost.
More information on these solutions can be found at
www.hpengage.com.
OpenText expects that the acquisition will complement its
current software portfolio, particularly its Customer Experience
Management and Cloud offerings, allowing OpenText to better serve
its customers by offering them a wider selection of software
solutions. In addition, this acquisition is expected to enhance the
multi-channel digital experience of OpenText's customers by
providing them with leading software products in marketing
optimization, mobile marketing, and voice of the customer
programs.
OpenText looks forward to welcoming the HP Inc. Customer
Experience Software employees, customers, and partners to OpenText
upon close of the transaction.
Terms of the Agreement
The transaction purchase price
is approximately $170 million. The
Customer Experience software business being acquired is expected to
generate between $85m and $95m of
annualized revenues, be immediately accretive and be on the
OpenText operating model within the first 12 months after
closing. The transaction is expected to close in the fourth
quarter of fiscal 2016 and is subject to customary regulatory
approvals and closing conditions.(1)
More information can be found in our presentation at
investors.opentext.com.
About OpenText
OpenText is the largest independent
software provider of Enterprise Information Management (EIM). For
more information please visit www.opentext.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this press release may
contain words considered forward-looking statements or information
under applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Unless otherwise required by applicable
securities laws, OpenText disclaims any intention or obligations to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
2016 Open Text Corporation. OpenText is a trademark or
registered trademark of OpenText SA and/or Open Text ULC. The list
of trademarks is not exhaustive of other trademarks, registered
trademarks, product names, company names, brands and service names
mentioned herein are property of OpenText SA or other
respective owners. All rights reserved. For more information,
visit: http://www.opentext.com/2/global/site-copyright.html_SKU.
OTEX-MNA
Notes
(1) All dollar amounts in this press release
are in US dollars unless otherwise indicated.
Further information:
Greg
Secord
Vice President, Investor Relations
Open Text Corporation
San Francisco:
(415) 963-0825
gsecord@opentext.com
Kasey Holman
Vice President, Corporate Communications
Open Text Corporation
San Francisco: (650) 302-4191
kholman@opentext.com
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SOURCE Open Text Corporation