OpenText (OTEX) to Acquire EasyLink (ESIC) for C$7.25/Share Cash

EasyLink Services International Corporation (Nasdaq: ESIC) today announced it has entered into a definitive agreement and plan of merger with OpenTextTM Corporation (OpenText) (Nasdaq: OTEX). Under the terms of the agreement, OpenText will acquire all of the outstanding common stock of EasyLink for $7.25 per share in cash for each share of common stock of EasyLink.

EasyLink's board of directors determined that the offer from OpenText represented a significant premium and pursuant to its fiduciary duties unanimously approved the proposed merger. The acquisition of EasyLink by OpenText is subject to customary conditions, including the approval by EasyLink shareholders and regulatory authorities, and is expected to close in mid to late summer of 2012.

William Blair & Company is acting as financial advisor to EasyLink. In this role William Blair rendered its opinion to the Board of Directors as to the fairness, from a financial point of view, to EasyLink's common stockholders (other than Open Text) of the consideration to be received by such holders in conjunction with this transaction.

Troutman Sanders LLP is serving as legal advisor to EasyLink in connection with this transaction.

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