OpenText Buys Recommind, Inc.
Jul 20, 2016, 09:00 ET
Company Expands eDiscovery and Information Analytics Footprint
WATERLOO, Ontario, July 20, 2016 /CNW/ -- OpenText™ (NASDAQ: OTEX, TSX: OTC), a global leader in Enterprise Information Management (EIM), today announced that it has closed its previously announced acquisition of Recommind, Inc., a leading provider of eDiscovery and information analytics. Recommind's SaaS and managed services solutions deliver insight from unstructured data to help people make better, faster business decisions.
Complementing OpenText's own leading EIM solutions, Recommind's platform and solution suite include eDiscovery and analytics to provide increased visibility into structured and unstructured data. Through the acquisition, OpenText customers will benefit from Recommind's analytics solutions for eDiscovery, investigations, contract analysis, and information governance including Decisiv Search, Perceptiv and Axcelerate.
"Unlocking the value of Enterprise Information requires finding, analyzing and making sense of these large volumes of information," said Mark J. Barrenechea, OpenText CEO and CTO. "Recommind information analytics can be used to solve problems at a scale not previously feasible without machine learning and is expected to be a critical component of the OpenText EIM strategy. With its technology, talent and market opportunity, Recommind offers an extraordinary opportunity and we are pleased to welcome them to OpenText."
As a leader in the development of best practices in the areas of eDiscovery and information analytics, Recommind is trusted by successful corporations, premier law firms and key regulatory agencies around the world. Information is the lifeblood of these organizations and Recommind delivers breakthrough software applications that harness the power of this information in order to solve concrete business problems.
The OpenText EIM strategy enables organizations to discover and manage information to spur growth and innovation and decrease time to competitive advantage. The OpenText EIM strategy consists of comprehensive and integrated solutions including Content Suite, Process Suite, Experience Suite, Discovery Suite, Business Network and Analytics.
OpenText is the largest independent software provider of Enterprise Information Management (EIM). For more information please visit www.opentext.com.
Cautionary Statement Regarding Forward-Looking Statements 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.
2016 Open Text Corporation. OpenText is a trademark or registered trademark of OpenText 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 OpenText SA or other respective owners. All rights reserved. For more information, visit: http://www.opentext.com/who-we-are/copyright-information.
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SOURCE Open Text Corporation
For further information: Greg Secord, Vice President, Investor Relations, Open Text Corporation, San Mateo, CA: (415) 963-0825, [email protected], Kasey Holman, Vice President, Corporate Communications, Open Text Corporation, San Mateo, CA: (650) 302-4191, [email protected], http://www.OpenText.com
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