Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 19, 2021

Article Excerpt

OPEN TEXT CORP., $65.99, symbol OTEX on Toronto, develops, markets, licenses and supports collaboration and enterprise-information-management software for corporate clients. That software finds, stores and distributes information across corporate intranet and extranet networks as well as the broader Internet. The company sells its products and services through its strategic partnerships with firms such as SAP SE, Microsoft Corporation, Oracle Corporation, Salesforce.com Corporation, Accenture plc, Deloitte Consulting LLP, Tata Consultancy Services, ATOS, and Ernst & Young. Based in Waterloo, Ontario, Open Text began as a research project that developed technology to index the Oxford English Dictionary. The company has since acquired a portfolio of software businesses, including its biggest purchase, Carbonite. In December 2019, Open Text paid $1.45 billion Cdn. for Carbonite, a leading subscription service provider of cloud-based data protection security to small and medium-sized businesses. It also offers them backup, disaster recovery, and endpoint protection. On November 8, 2021, Open Text announced that it would acquire Zix Corporation (symbol ZIXI on Nasdaq)…