Document Output Management and Customer Communication Management Solutions Complement the Open Text ECM Suite, Enhances SAP Partnership
WATERLOO, ON, Oct. 27 - Open Text Corporation (NASDAQ: OTEX, TSX:
OTC) today announced that it has acquired StreamServe Inc., a leading
provider of business communication solutions. The acquisition will add
complementary document output and customer communication management
software to the Open Text ECM Suite, while enhancing Open Text's SAP
partnership and extending its reach in the Nordic market. The
transaction is valued at approximately USD $71 million, subject to
customary purchase price and holdback adjustments.
StreamServe offers enterprise business communication solutions that help
organizations process and deliver highly personalized documents in any
paper or electronic format. The company's powerful solutions enhance
the customer interaction capabilities of the Open Text ECM Suite by
enabling the automation of business processes for B2B and B2C markets,
including financial services, the public sector, telecommunications and
utilities.
Designed to address the "last mile" of communication between an
organization and its customers, StreamServe's solutions excel at
improving and expanding business relationships. With StreamServe's
software, companies can automatically create documents through
rules-based dynamic assembly and present them to customers, partners,
and suppliers, in multiple formats and through whichever channel they
prefer.
StreamServe offers solutions that scale across a company's
document-driven business processes. The company's solutions are
designed for easy integration with ERP and supply-chain systems and
applications, including SAP. Open Text and SAP have a 20-year partner
relationship, and SAP resells a wide range of Open Text ECM solutions.
Like Open Text, StreamServe has an established reseller partnership
with SAP making it a natural fit with Open Text's SAP partner strategy.
"From both a technology and partnership standpoint, StreamServe is a
complementary fit for Open Text," said John Shackleton, President and
Chief Executive Officer of Open Text. "StreamServe brings innovative
new technology to the ECM Suite, offering products that automate and
personalize customer communication processes, while integrating this
functionality with key Open Text ECM solutions."
StreamServe also expands Open Text's presence in the Northern European
market. StreamServe has global operations, with a strong presence in
Europe, particularly in Sweden, where the company was originally
founded.
Open Text, which has a long history of successfully supporting acquired
products and services, will continue to support StreamServe's products
and installed base. Open Text will also integrate StreamServe's
technology with the Open Text ECM Suite.
"As part of Open Text, we can offer our customers even greater value
with an expanded solutions portfolio and the support of a much larger
ECM company," said Dennis Ladd, President and Chief Executive Officer
of StreamServe. "Together we remain committed to our customers, and
we're excited about the opportunities and new solutions we'll be able
to deliver as part of the Open Text team."
Follow Open Text on Twitter: @opentext
About Open Text
Open Text, a global ECM leader, helps organizations manage and gain the
true value of their business content. Open Text brings two decades of
expertise supporting 100 million users in 114 countries. Working with
our customers and partners, we bring together leading Content Experts(TM)
to help organizations capture and preserve corporate memory, increase
brand equity, automate processes, mitigate risk, manage compliance and
improve competitiveness. For more information, visit www.opentext.com.
SOURCE Open Text Corporation
CONTACT:Richard Maganini
Open Text
847-961-0662
rmaganin@opentext.com
Stephanie Fazio
Open Text
519-888-7111 ext.2429
sfazio@opentext.com