Open Text Buys Recommind for $163M

Waterloo, ON, Canada-based Open Text Corporation (NASDAQ: OTEX) (TSX: OTC), a global leader in Enterprise Information Management, is to acquire Recommind, Inc., a San Francisco, CA-based provider of eDiscovery, and information analytics solutions.

The transaction purchase price is approximately $163m.

Recommind provides SaaS and managed services solutions including Axcelerate for eDiscovery review and analysis, Perceptiv for contract analytics and Decisiv for enterprise-wide information access.

With this acquisition, Recommind’s eDiscovery solution will complement OpenText’s own enterprise information management (EIM) solutions. In addition, the deal is expected to expand OpenText’s expertise in cloud and developing and using analytics to solve concrete and expensive business problems.

FinSMEs

03/06/2016

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