Open Text signs deal to buy HP customer experience software business for US$170M
WATERLOO, Ont. – Open Text Corp. (TSX:OTC) has signed a deal with HP Inc. to buy a group of customer experience software and services assets for US$170 million in cash.
The business software company said the deal, which includes about 400 employees, will complement its portfolio and allow it to offer customers a wider selection of options.
Under the deal, Open Text will acquire HP TeamSite, a management platform for web content, HP MediaBin, a digital asset management system, and HP Qfiniti, a workforce optimization system.
The agreement also includes HP Explore, HP Aurasma and HP Optimost.
Open Text said the business being acquired is expected to generate between US$85 million and US$95 million of annualized revenues.
The deal is expected to close in the fourth quarter of the company’s 2016 financial year.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
