Canada's OpenText to buy Dell-EMC's enterprise content unit for $1.62 billion
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
(Reuters) - Canadian business software maker OpenText Corp
The Dell-EMC enterprise content division (ECD) offers content management services for enterprises and generated about $599 million in revenue in 2015.
OpenText, one of Canada's largest software companies, makes products used by enterprises to manage large volumes of content and it has been buying related businesses to boost its customer base.
The company in June agreed to buy HP Inc's (NYSE: HPQ) customer management software business. Two months before that it bought a set of content management software tools from HP for about $170 million.
OpenText said it expected its latest deal to close within 90 to 120 days and then immediately add to its earnings.
Barclays, which acted as a financial adviser, has provided a $1 billion debt commitment for the deal, OpenText said.
(Reporting by Arathy S Nair and Rishika Sadam in Bengaluru; Editing by Sriraj Kalluvila and Savio D'Souza)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tailored Brands (TLRD) Tops Q3 EPS by 13c
- Notable Mergers and Acquisitions 12/7: (SPLS) (CMCO) (CW) (FIT)
- Lululemon quarterly sales top expectations, shares jump
Create E-mail Alert Related CategoriesReuters
Related EntitiesBarclays, Earnings
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!