Open Text awarded CAD33.75m grant in Ontario
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[March 05, 2010]

Open Text awarded CAD33.75m grant in Ontario

(EquityBites Via Acquire Media NewsEdge) Ontario's Ministry of Economic Development and Trade said on Friday that it is providing a grant to Canadian software company Open Text Corp (Nasdaq:OTEX) (TSX:OTC) to help develop new digital media products and create almost 400 new jobs.


Open Text is conducting research and development into emerging segments of the market, including green computing, mobile applications and high performance systems.

The Ontario Government is providing a grant of CAD33.75m through the Next Generation of Jobs Fund, as part of Open Text's total investment of CAD225m over the next five years. The project will create jobs at Open Text's operations in Waterloo, Richmond Hill and Ottawa.


(USD1=CAD1.03) ((Comments on this story may be sent to tww.feedback@m2.com)) (c) 2010 M2 COMMUNICATIONS

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