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OpenText Buys XMediusLeader in Secure Information Exchange and Unified Communications WATERLOO, Ontario, March 9, 2020 /CNW/ -- OpenText™ (NASDAQ: OTEX) (TSX: OTEX), "The Information Company," today announced that it has acquired XMedius, a provider of secure information exchange and unified communication solutions. XMedius brings decades of experience and patented technologies to transform secure and collaborative communication, enabling organizations to move more workloads to the cloud and unlock the information advantage. "With more than 50,000 installations worldwide, the acquisition of XMedius further strengthens OpenText's leadership in secure information exchange, unified communications and digital fax," said Mark J. Barrenechea, OpenText CEO & CTO. "We welcome XMedius's customers, strong partner network and employees to OpenText. The acquisition reaffirms our commitment to Montreal, already a strategic hub for our analytics and AI development teams. Together, we will bring leading cloud and hybrid solutions to enterprises and small to mid-sized businesses." XMedius also provides innovative technologies to optimize the omnichannel customer experience and the connected business. These solutions will complement OpenText's Customer Experience Management (CEM) and Business Network (BN) platforms. More information on XMedius can be found on www.xmedius.com. Terms of Agreement and Preliminary Outlook(1) The purchase price of the acquisition is approximately $75 million in an all-cash transaction. XMedius currently generates approximately $40 million annually in revenue. OpenText expects first year revenes to be down, up to 20% due to customary purchase price accounting adjustments and typical integration activities. XMedius is not expected to contribute significant revenue to OpenText's results for the fiscal third quarter ending March 31, 2020. About OpenText OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, on-premises or in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com. Cautionary Statement Regarding Forward-Looking Statements Copyright ©2020 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved. For more information, visit: http://www.opentext.com/who-we-are/copyright-information. Notes: (1) All dollar amounts in this press release are in US dollars unless otherwise indicated. OTEX-MNA For more information, please contact: Harry E. Blount Chris Plunkett View original content:http://www.prnewswire.com/news-releases/opentext-buys-xmedius-301019703.html SOURCE Open Text Corporation |