OpenText Welcomes Digital Canada 150 Plan

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Open Text Corporation

Apr 04, 2014, 09:48 ET

WATERLOO, Ontario, April 4, 2014 /CNW/ - OpenText™ (NASDAQ: OTEX, TSX: OTC), the global leader in Enterprise Information Management (EIM) and Canada's largest software company, today welcomed the Honourable James Moore, Minister of Industry, as he announced the federal government's Digital Canada 150 plan at the Company's headquarters.

"We now live in a digital world. What connects us today is the internet, and new technologies that have created tremendous opportunities for Canadians to communicate with each other, and business to compete globally," said Minister Moore. "Our Government's top priority is jobs and economic growth. Digital Canada 150 is a plan to take full advantage of the digital economy as we celebrate our 150th anniversary in 2017. It's the next step to build our nation and connect Canadians to each other."

The Digital Canada 150 plan identifies Economic Opportunities as one of the plan's five pillars, which will see Canadian companies, large and small, use digital tools to boost productivity, develop their businesses and capture growing markets at home and abroad.

Following the announcement, the Minister will take questions from stakeholders in a question and answer session moderated by Mark J. Barrenechea, President and CEO of OpenText.

"Digital Canada 150 lays the foundation for a connected and competitive Canada," said Barrenechea. "Our 2020 Agenda helps organizations prepare for the digital economy of tomorrow by re-imagining their information platforms today and delivering a roadmap to navigate the evolving business landscape."

As a global company based in the region, OpenText is committed to supporting Canadian technology innovation through its investments and advocacy in the start-up community.

OpenText has undertaken a number of initiatives within the last six months intended to directly seed technology entrepreneurship and innovation in Canada:

  • February 28, 2014: OpenText sponsors the Canadian Open Data Experience (CODE) national appathon;
  • February 11, 2014: OpenText announces it is a founding partner in the Open Data Institute;
  • January 21, 2014: OpenText announces it is the lead industry sponsor in a newly created $300 million 'fund of funds' that will invest in high-potential venture capital fund managers across Canada to seed innovation, along with the federal and provincial governments;
  • January 21, 2014: OpenText announces it expects to close in the next six months with its financial partners, a $100 million OpenText Enterprise Applications Venture Fund (OTEAF) to infuse funding directly into creative app development;
  • November, 2013, OpenText announced its own AppWorks developer platform to dramatically accelerate the time to market for enterprise-grade applications. Entrepreneurs can get on board at: https://developer.opentext.com

Today's announcement is being livestreamed at www.opentext.com/digital

Learn more about OpenText EIM:

About OpenText
OpenText provides Enterprise Information Management software that helps companies of all sizes and industries to manage, secure and leverage their unstructured business information, either in their data center or in the cloud. Over 50,000 companies already use OpenText solutions to unleash the power of their information. To learn more about OpenText (NASDAQ: OTEX; TSX: OTC), please 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 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.

Copyright ©2014 Open Text Corporation. OpenText is a trademark or registered trademark of Open Text 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 Open Text SA or other respective owners. All rights reserved. For more information, visit: http://www.opentext.com/2/global/site-copyright.html_SKU.

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SOURCE: Open Text Corporation

Kasey Holman, Vice President Corporate Communications, OpenText, +1-415-500-9551, [email protected]; Deborah Rowe, Weber Shandwick, +1 416-642-7951, [email protected]; Greg Secord, Vice President Investor Relations, OpenText, +1 415-963-0825, [email protected]

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Open Text Corporation