Creative Collaboration and File Sharing Solutions to Enhance Content Services
WATERLOO, Ontario, Feb. 14, 2018 /CNW/ -- OpenText™ (NASDAQ: OTEX) (TSX: OTEX), a global leader in Enterprise Information Management (EIM), announced today that it has acquired Hightail, Inc. ("Hightail"), formerly known as YouSendIt, a leading cloud service for file sharing and creative collaboration with approximately 5.5 million customers globally spanning enterprise accounts, paid subscribers, and individual consumers.
"The acquisition of Hightail underscores our commitment to delivering differentiated content solutions in the cloud that enable marketers and creative professionals to share, produce, and securely collaborate on digital content," said Mark J. Barrenechea, OpenText Vice Chairman, CEO and CTO. "We are pleased to welcome Hightail customers and employees to OpenText today."
Barrenechea further added, "I am excited about expanding Hightail capabilities as well as integrating Hightail into OpenText Content Suite, Documentum, Core, and Media Management, allowing our customers to seamlessly and securely collaborate with external trading partners and vendors."
Hightail is not expected to contribute significant revenue to OpenText's results for the fiscal third quarter ending March 31, 2018.
About OpenText OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, on-premises or in the cloud. For more information about OpenText (NASDAQ: OTEX,TSX: OTEX) visit opentext.com.
Cautionary Statement Regarding Forward-Looking StatementsCertain statements in this press release, including statements regarding OpenText's plans, objectives, expectations and intentions relating to the acquisition, as well as the acquisition's expected contribution to OpenText's results, 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.
Notes: (1) All dollar amounts in this press release are in US dollars unless otherwise indicated.
SOURCE Open Text Corporation
For further information: Greg Secord, Vice President, Investor Relations, Open Text Corporation, (415) 963-0825, [email protected], OR Kasey Holman, Vice President, Corporate Communications, Open Text Corporation, (650) 302-4191, [email protected], http://www.OpenText.com