Open Text Agrees to Acquire Some HP Assets for $170 Million
April 18 2016 - 11:22AM
Dow Jones News
By Tess Stynes
Open Text Corp. agreed to acquire several customer-service
software and services assets from HP Inc. for roughly $170
million.
The Waterloo, Ontario, company expects the deal, which includes
web content management platform HP TeamSite, will complement its
current software portfolio and enhance its software marketing
optimization, mobile marketing, and certain customer programs.
The deal is anticipated to boost Open Text's performance
immediately after closing, with the acquired assets expected to
generate annual revenue of between $85 million and $95 million.
HP Inc. is composed of the personal computer and printer
businesses of the former Hewlett-Packard Co., which broke up in
early November into two publicly held companies.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
April 18, 2016 11:07 ET (15:07 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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