Open Text Corporation, a provider of Enterprise Information Management solutions, is entering into a definitive agreement to acquire Recommind, Inc., a leading provider of eDiscovery, and information analytics.
The transaction purchase price is approximately $163 million and with this acquisition, Recommind’s eDiscovery platform will complement OpenText’s own enterprise information management (EIM) solutions.
In addition, this acquisition is expected to expand OpenText’s expertise in cloud and develop deeper analytics to solve business problems.??
Recommind’s SaaS and managed services solutions will intergrate into OpenText’s portfolio. The platforms include, Axcelerate for eDiscovery review and analysis, Perceptiv for contract analytics, and Decisiv for enterprise-wide information access.??
According to OpenText, the solutions being acquired are expected to generate between $70 million and $80 million of annualized revenues, be immediately accretive to earnings, and be on the OpenText operating model within the first 12 months after closing.
The transaction is expected to close in the first quarter of fiscal 2017 and is subject to customary regulatory approvals and closing conditions.
For more information about this news, visit www.opentext.com.