|
Open Text Acquires Division of Spicer Corporation
Thursday, July 03, 2008
WATERLOO, ON, July 3 /PRNewswire-FirstCall/ - Open Text(TM) Corporation
(NASDAQ:OTEX) (TSX:OTC), a leading provider of Enterprise Content Management
(ECM) software, today 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.
"This acquisition will complement and extend Open Text's existing ECM
Suite, providing flexible document viewing options and enhanced document
security functionality," said John Shackleton, President and CEO of Open Text.
"Through this acquisition, Spicer customers benefit from access to an expanded
ECM solutions portfolio and our commitment to continued Spicer product
availability with enhanced innovation, development and 24x7 customer support."
Tim Lehan and Patrick Pidduck, long-standing leaders from Spicer, will
join Open Text and form the nucleus of Open Text's Content Viewer Solutions
Group. The charter of this group will be to carry on the development, support,
and sale of the Spicer products, and develop similar capabilities for Open
Text's ECM Suite. Open Text software is used by over 40 million end users in
over 46,000 customers, all with increasing expectations of a rich user
experience, including high-quality rendering of a myriad of content formats.
About Spicer Corporation
Spicer Corporation is a worldwide supplier of scalable, universal
view-markup and collaboration software solutions that improves document
productivity and the return on investment for organizations with ECM, CM, PDM,
PLM, ERP, and other corporate information systems. Spicer's visualization,
collaboration, redaction, and scanning products are used globally in
Manufacturing, Government, Utilities, Insurance and Financial Services, and
Reprographics markets. For more information on Spicer, visit: www.spicer.com
About Open Text
Open Text(TM) is the world's largest independent provider of Enterprise
Content Management software. The company's solutions manage information for
all types of business, compliance and industry requirements in large
companies, government agencies and professional service firms. Open Text
supports approximately 46,000 customers in 114 countries and 12 languages. For
more information about Open Text, visit www.opentext.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
This news release may contain forward-looking statements relating to the
acquisition of substantially all of the assets of Spicer Corporation relating
to its Spicer Division, the success of any of the Company's strategic
initiatives, the Company's growth and profitability prospects, the benefits of
the Company's products to be realized by customers, the Company's position in
the market and future opportunities therein, the deployment of Livelink and
our other products by customers, and future performance of Open Text
Corporation. Forward-looking statements may also include, without limitation,
any statement relating to future events, conditions or circumstances.
Forward-looking statements in this release are not promises or guarantees and
are subject to certain risks and uncertainties, and actual results may differ
materially. The risks and uncertainties that may affect forward-looking
statements include, among others, the failure to develop new products, risks
involved in fluctuations in currency exchange rates, delays in purchasing
decisions of customers, the completion and integration of acquisitions, the
possibility of technical, logistical or planning issues in connection with
deployments, the continuous commitment of the Company's customers, demand for
the Company's products and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission (SEC), including
the Form 10-K for the year ended June 30, 2007. You should not place undue
reliance upon any such forward-looking statements, which are based on
management's beliefs and opinions at the time the statements are made, and the
Company does not undertake any obligations to update forward-looking
statements should circumstances or management's beliefs or opinions change.
Copyright (C) 2008 by Open Text Corporation. LIVELINK ECM and OPEN TEXT
are trademarks or registered trademarks of Open Text Corporation in the United
States of America, Canada, the European Union and/or other countries. This
list of trademarks is not exhaustive. Other trademarks, registered trademarks,
product names, company names, brands and service names mentioned herein are
property of Open Text Corporation or other respective owners.
SOURCE Open Text Corporation
|
|
|
|
 |
Microsoft seeks to revive Windows with Seinfeld | Sep 6, 2008
|
|
County Commission OKs $114 million operating budget | Sep 6, 2008
|
|
Seinfeld ads only part of Microsoft push | Sep 6, 2008
|
|
Contiki 2.2.1 Released | Sep 6, 2008
|
|
Microsoft fine-tuning Vista's software, image | Sep 6, 2008
|
|
Browser Or Cloud Operating System? | Sep 6, 2008
|
|
Microsoft kicks off $300 million Windows marketing push | Sep 5, 2008
|
|
Microsoft kicks off $300 mln Windows marketing push | Sep 5, 2008
|
|
Handicapping the Fall Enterprise Software Race: SAP vs. Oracle vs. Microsoft | Sep 5, 2008
|
|
Sun to develop virtual NAS | Sep 5, 2008
|
|
|
