WATERLOO, ON, April 1 /CNW/ - Open Text Corporation (NASDAQ: OTEX, TSX: OTC), the preeminent provider of Enterprise Content Management (ECM) software, announced today that it has topped the 2010 Branham300 list of software companies in Canada for the second year in a row. The Branham300 is published by the Branham Group, a leading Canadian industry analyst and strategic consulting firm serving the global information technology marketplace.
"Once again, we are very pleased to be recognized by Branham300 as Canada's leading software company," said Tom Jenkins, Executive Chairman & Chief Strategy Officer, Open Text. "Open Text has operations throughout the world and we continue to enjoy a great relationship with Canada because of the advantages of being located here. Working with both private and public organizations, this is a great country to continue our investments in digital content management research that will help our users remain globally competitive."
Tom Jenkins, Executive Chairman & Chief Strategy Officer, Open Text will be speaking at the Branham300 2010 Waterloo Launch Event on April 7 at Wildcraft restaurant where he will address the current state of the Canadian ICT Industry.
In its 17th year, The Branham300 demonstrates the depth and breadth of innovative technology offered by Canadian companies and the contribution these organizations make to the economy both nationally and provincially. To be considered for the rankings of Canadian firms, organizations must be founded and headquartered in Canada, and corporate direction must be determined in Canada.
"Over the past decade, Open Text has experienced consistent positive growth allowing it to grow from a hundred million dollar firm to an industry leader that is approaching the billion dollar revenue mark for the first time in company history," notes Wayne Gudbranson, President & Chief Executive Officer, Branham Group. "After achieving the rank as Canada's premier software company on last year's Branham300, Open Text strengthened its position in 2009. They truly are a shining star within Canada's ICT Industry."
Based in Waterloo, Ontario, Open Text has grown quickly over the last few years to become the largest independent ECM software company in the world. ECM helps large companies and government agencies manage huge stores of documents, email, videos and other content; improve information sharing and worker collaboration; and manage business processes and compliance rules that depend on information. About 100 million people in 114 countries use Open Text's software. The company employs about 4,500 people around the world, including about 1,500 across Canada.
Open Text was founded in Waterloo, Ontario in the early '90s when a group of University of Waterloo researchers converted the entire Oxford English Dictionary -- all 60 million words -- to electronic form, a major feat in the pre-Internet days. The work formed the basis for the Internet's first search engine technology and it was soon adopted by Yahoo, one of Open Text's first customers. Since its IPO in 1996, the company has continued to thrive and was ranked 15th in Fortune Magazine's 2009 list of the 100 Fastest-Growing companies and 6th within the list's breakdown of fastest-growing tech companies.
Late last year, the company unveiled plans to expand its Waterloo facility to two buildings, doubling the company's footprint at its headquarters location. Construction of the second building is expected to get under way in July, 2010 and project completion is slated for the summer of 2011.
In March, Open Text announced (http://www.opentext.com/2/global/press-release-details.html?id=2332) it will spend $225 million over the next five years on product innovations and related job creation at its Waterloo, Richmond Hill and Ottawa locations.
About the Branham300
Entering its 17th year, the Branham300 highlights the top Canadian and Multinational ICT companies operating in Canada and is widely considered to be a leading source of intelligence on Canada's ICT industry. The Branham300 list consists of the following major categories, ranked by revenue:
- Top 250 Canadian ICT Companies
- Top 25 ICT Multinational Companies operating in Canada
- Top 25 Up and Comer ICT Companies (category ranked on innovation/not
- The Next 50
The Branham300 is published annually in the April/May issue of Backbone Magazine, as well as on the Branham300 website, www.branham300.com.
About Branham Group Inc.
Branham Group is a leading industry analyst and strategic consulting firm servicing the global information technology marketplace. Branham Group assists information technology companies and related institutions in achieving market success through its custom consulting services (Planning, Marketing and Partnering), and through its multi-client research subscription programs (eHealth, Outsourcing, Green IT and Wireless). Branham also produces an annual listing of the top information technology companies in Canada (www.branham300.com), tracks the Canadian Outsourcing industry (www.branhamoutsourcing.com) and monitors over 450 eHealth vendors. For more information regarding Branham Group, please visit www.branhamgroup.com.
About Open Text
Open Text, the preeminent Enterprise Content Management software solutions company, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 100 million users in 114 countries. Working with our customers and partners, we bring together leading Content Experts to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on the Open Text'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. Open Text's assumptions, although considered reasonable by the company at the date of this press release, may provide 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 the Open Text'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, Open Text disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Copyright (C) 2010 by Open Text Corporation. OPEN TEXT and the OPEN TEXT ECM SUITE are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.
SOURCE Open Text Corporation
For further information: For further information: Richard Maganini, Open Text Corporation, 1-847-961-0662, firstname.lastname@example.org; Stephanie Fazio, Open Text Corporation, (519) 888-7111, ext.2429, email@example.com