Open Text (OTEX) Acquires Assets of Spicer Corp
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Open Text Corporation (NASDAQ: OTEX) announced the acquisition of substantially all of the assets of Spicer Corporation (a privately held company) relating to its division that specializes in file format viewer solutions for desktop applications, integrated business process management (BPM) systems, and reprographics.
Approximately 30 employees from this Spicer division will be joining Open Text, most of whom are based in Kitchener, Ontario, Canada, located nearby Open Text's corporate headquarters. Open Text purchased the assets for approximately $12 million effective July 1, 2008. It is currently anticipated that the financial terms and future impact of the acquisition will not have a material effect on future financial results of Open Text.
Open Text Corporation (Open Text), develops, markets, sells, and supports enterprise content management (ECM) solutions. It offers its solutions both as end user products and as fully integrated modules. [SM]
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