Open Text (OTEX) to Acquire Dell EMC's Enterprise Content Division
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Open Text Corporation (NASDAQ: OTEX) announced that it has entered into a definitive agreement to acquire Dell EMC's Enterprise Content Division (ECD), including Documentum. ECD offers a suite of leading Enterprise Content Management solutions with deep industry focus, including the Documentum™, InfoArchive™, and LEAP™ product families.
Under the terms of the agreement, the software, associated services, and employees of ECD will be integrated into OpenText. The acquisition is expected to deepen OpenText's EIM offering with a substantial portfolio focused on Enterprise Content Management (ECM) and Information Life Cycle Management. With strong industry offerings, expertise and footprints in healthcare, life sciences, and public sector, plus additional capacity in financial services, energy, and engineering, OpenText will further strengthen its vertical offerings, customer base, managed services, and geographical coverage.
OpenText and Dell EMC also announced today their intention to negotiate and enter into a strategic commercial partnership to expand customer offerings and to better serve customer needs.
"We are at the beginning of the Digital revolution where extreme connectivity, automation, and computing are converging," said OpenText CEO and CTO Mark J. Barrenechea. "This acquisition further strengthens OpenText as a leader in Enterprise Information Management, enabling customers to capture their Digital future and transform into information-based businesses. We are very excited about the opportunities which ECD and Documentum bring, and I look forward to welcoming our new customers, employees, and partners to OpenText."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- WestRock (WRK) to Acquire Multi Packaging Solutions (MPSX) for $18 per share
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Bob Evans Farms (BOBE) Reports Sale of Bob Evans Restaurants and Acquisition of Pineland Farms Potato Company
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Management Comments, Mergers and Acquisitions
Related EntitiesMorgan Stanley, Barclays, EIM Group, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!