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OpenText Signs Agreement with EasyLink Corporation
OpenText Corporation signed a merger agreement with EasyLink Services (News - Alert) International Corporation, expected to close over the next couple of months. The merger requires that OpenText purchase any outstanding common stock of EasyLink for $7.25 per share in cash.
OpenText is a software company based in Ontario, Canada. The company produces and distributes computer software applications designed to enable enterprise content management (ECM) solutions for large corporations across all industries.
Some of the OpenText solutions address information management requirements, including the creation of a mobile workforce, ensuring compliance with regulations and opening an online portal for employees and customers.
EasyLink offers similar services; it’s a leading global provider of electronic data interchange solutions, as well as an Internet email to desktop fax service. The company specializes in working on electronic messaging that helps optimize relationships with partners, supplies, customers and other stakeholders.
Kim Cooke, chairman of EasyLink, said it was a unanimous decision to start a relationship with OpenText. “After a thorough review of a broad range of alternatives to enhance stockholder value, our board of directors concluded that the best available option was a merger with OpenText,” said Cooke. “We are pleased that this transaction appropriately recognizes the value of EasyLink’s relationships, technology and solutions, while providing our stockholders with an attractive cash premium for their investment.”
Tom Stallings, chief executive officer at EasyLink, agreed saying this was the best business decision for both companies.
“This acquisition supports all of the hard work our colleagues around the world have done to create a strong business,” said Stallings. “By acquiring EasyLink, OpenText will be able to build upon EasyLink’s portfolio of cloud-based on-demand and supply chain solutions and leverage its talented employees, industry expertise and broad customer base.”
The acquisition is subject to final approval of all conditions by shareholders and authorities. The companies plan on having the deal completed and closed by mid to late summer of 2012.
Edited by Braden Becker