Acquisition Allows OpenText to Offer Consumers a Broader
Selection of Software Solutions in Multi-Channel Customer
Engagement
WATERLOO, Ontario, June 20, 2016 /PRNewswire/ -- Open Text
Corporation (NASDAQ: OTEX) (TSX: OTC), a global leader in
Enterprise Information Management, announced today that it has
entered into a definitive agreement to acquire the Customer
Communications Management (CCM) assets from HP Inc. (NYSE: HPQ),
including HP Exstream, HP Output Management, HP TeleForm and HP
LiquidOffice for customer communications management, process
automation and document delivery solutions. OpenText expects this
acquisition to complement OpenText StreamServe, OpenText
MediaManager, OpenText TeamSite, and OpenText MediaBin, and allow
OpenText to better serve its customers by offering a wider set of
CCM capabilities in areas including authoring, workflow and
composition for multichannel document presentment and interactive
communications.
OpenText and HP Inc. also announced today that they are
exploring opportunities to work together in the future to expand
their software solutions to customers and serve a broad range of
customer needs.
Terms of the Agreement
The transaction purchase price is approximately USD $315 million. The solutions being acquired are
expected to generate between USD $110
and USD $125 millions of annualized
revenues, be immediately accretive to earnings and on the OpenText
operating model by the end of first quarter F17. The transaction is
expected to close in the first quarter of FY17 and is subject to
customary regulatory approvals and closing conditions.
(1)
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/who-we-are/copyright-information.
OTEX-MNA
Notes: (1) All dollar amounts in this press release
are in US dollars unless otherwise indicated.
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SOURCE Open Text Corporation