Acquisition Extends OpenText Business Network and Cloud Leadership
WATERLOO, Ontario, Dec. 17, 2018 /CNW/ -- OpenText™ (NASDAQ: OTEX,TSX: OTEX), a global leader in Enterprise Information Management (EIM), today announced it has completed the closing of its previously announced acquisition of Liaison Technologies, Inc., a leading provider of cloud-based information integration and data management solutions.
"The world of digital is very dynamic, and companies need the ability to connect business to business, application to application, with speed, security, and reusability," said OpenText CEO & CTO Mark J. Barrenechea. "The acquisition of Liaison extends the OpenText Business Network and Cloud leadership and provides new technologies for our customers to build application networks in the dynamic world of mobile, cloud, SaaS, and Omnichannel. We are tremendously excited today to welcome Liaison customers, trading partners and employees to OpenText."
Liaison's ALLOY® Platform brings innovative and differentiated technologies to modernize, streamline and accelerate complex information integration for global intelligent and connected enterprises. This technology dramatically accelerates onboarding and migration, enabling OpenText customers to become more agile and responsive to changing market and customer demands.
Liaison will be integrated into OpenText Business Network, a suite of solutions that facilitate efficient, secure, and compliant information flows between people, systems, and things. OpenText Business Network is the global leader in enabling digital business, processing trillions in commerce every year and connecting over 1 million businesses globally.
Barrenechea continued, "Liaison's strong innovation in multi-enterprise application integration extends OpenText Business Network leadership within key verticals including life sciences, manufacturing and healthcare. The acquisition enables OpenText to address fast-growing adjacent market segments with a unique managed services approach."
Terms of the Agreement and Preliminary Outlook
The purchase price is approximately $310 million in an all-cash transaction. Liaison is expected to contribute insignificant revenue to OpenText's results for the second quarter ending December 31, 2018, given that the transaction has closed during the holidays.
Liaison is expected to be on the OpenText target operating model within the first twelve months after closing. Financial details regarding the acquisition will be provided with OpenText's second quarter fiscal year 2019 earnings materials and conference call.
Further information for investors, including an overview presentation regarding Liaison, can be found at: investors.opentext.com/mergers-and-acquisitions
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 Statements
Certain statements in this press release, including statements regarding OpenText's plans, objectives, expectations and intentions relating to the acquisition, the acquisition's expected contribution to OpenText's results, as well as the expected timing and benefits of the acquisition being on the OpenText operating model, 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 ©2018 OpenText. OpenText is a trademark or registered trademark of OpenText. 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. All rights reserved. For more information, visit: http://www.opentext.com/who-we-are/copyright-information.
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]; Ryan Hill, Senior Manager, Public Relations Open Text Corporation (416) 524-6794, [email protected], http://www.OpenText.com