Adds Digital Media Capabilities for Enterprise 2.0
WATERLOO, ON, July 10 /CNW/ - Open Text(TM) Corporation (NASDAQ: OTEX)
(TSX:OTC), a leading provider of Enterprise Content Management (ECM) software,
today announced the acquisition of eMotion LLC from Corbis Corporation. The
eMotion division will become part of Open Text's Artesia Digital Media Group.
The acquisition gives Open Text's Artesia Digital Media Group a broader
portfolio of offerings for marketing departments and advertising agencies,
adding capabilities that complement its industry-leading enterprise marketing
asset management solution, Artesia DAM. The move will extend Open Text's
digital media capabilities as part of its Enterprise 2.0 strategy.
"eMotion is the right fit at the right time to expand our Artesia Digital
Media Group, our portfolio of solutions for marketing departments, and our
team of content experts who can innovate with customers and leverage their
growing libraries of video, images and other rich media content in a Web 2.0
world," said Scott Bowen, President of Open Text's Artesia Digital Media
"By joining a global leader in ECM and digital media solutions, our
products become part of a comprehensive family of solutions that help
organizations manage all of their business content," said Jon Schupp,
Vice-President of Media Services at eMotion. "We will continue our strong
commitment to our customers and to delivering the most innovative solutions,
now with the backing and broader range of capabilities from Open Text and the
Artesia Digital Media Group."
Mr. Schupp is joining the Artesia Digital Media Group as Vice-President,
eMotion is headquartered in Seattle and has a team based in Virginia.
Open Text purchased the division for approximately $5 million, net of cash and
assets, effective July 2, 2008. It is currently anticipated that the financial
terms and future impact of the acquisition will not have a material effect on
future financial results of Open Text.
"eMotion serves more than 70 marketing-department customers, including
some of the largest Fortune 500 companies," said Mr. Bowen. "We will leverage
the scale of Open Text, the expertise of the Artesia Digital Media Group, and
the talented staff from eMotion to create compelling solutions for marketers.
We're excited about adding the expert team at eMotion to our organization and
augmenting it to meet growing customer demand."
The Artesia Digital Media Group at Open Text is already a leader in
delivering media management solutions to marketing departments and advertising
agencies. For more information on Artesia's position as a market leader go to:
Corbis is a leading visual media provider for the creative community,
licensing the widest array of award-winning contemporary, historical and
entertainment photography as well as extensive collections of acclaimed
illustration and footage. Its imagery is seen everyday around the world in
advertising, media, publishing and corporate communications. Corbis is
headquartered in Seattle with 15 offices throughout North America, Europe,
Asia and Australia that serve more than 50 countries worldwide. For more
information, visit www.corbis.com.
About Open Text
Open Text, an enterprise software company and leader in enterprise
content management, helps organizations manage and gain the true value of
their business content. Open Text brings two decades of expertise supporting
46,000 customers and millions of users in 114 countries. Working with our
customers and partners, we bring together leading Content Experts(TM) 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.
Safe Harbor Statement Under the Private Securities Litigation Reform Act
This news release may contain forward-looking statements relating to the
acquisition of eMotion LLC from Corbis Corporation, the success of any of the
Company's strategic initiatives, the Company's growth and profitability
prospects, the benefits of the Company's products to be realized by customers,
the Company's position in the market and future opportunities therein, the
deployment of Livelink and our other products by customers, and future
performance of Open Text Corporation. Forward-looking statements may also
include, without limitation, any statement relating to future events,
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and actual results may differ materially. The risks and uncertainties that may
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Copyright (C) 2008 by Open Text Corporation. LIVELINK ECM and OPEN TEXT
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For further information: Paul McFeeters, Chief Financial Officer, Open
Text Corporation, (905) 762-6121, email@example.com; Greg Secord,
Vice-President, Investor Relations, Open Text Corporation, (519) 888-7111
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