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OpenText buys business software company Global 360 for $260m

Published: 15:44 13 Jul 2011 BST

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OpenText (NASDAQ:OTEX), a content management software company, said today that it has purchased Texas-based Global 360 Holding Corp. for $260 million.

In morning trade, shares in the company rose $1.40, or 2.14% to $66.70.

OpenText said the acquisition continues to expand its business process management market.

The deal is also expected to add to its technology, services, and geographical capabilities, as well as giving the company a new presence in the case management market.

Waterloo-based OpenText specializes in enterprise content management, providing software that helps companies and organizations organize and manage information.

Global 360, which operates in 70 countries, is known for its case management and document-centric business process services. The company generated $90 million in trailing 12 months revenue and is profitable.

"Many global organizations – about 60% – already connect their enterprise content management and business process management projects under a single strategy," said OpenText chief executive, John Shackleton.

"Customers are moving in this direction and we are accelerating our investment in leading content, process and case management solutions as a result."

In February, OpenText also acquired Metastorm, another business process management company, for $182 million. The two acquisitions add 300 staff in research and development dedicated to business process management and case management solutions, the company said in a statement.

The transaction closed in the first quarter of fiscal 2012, and will not be included as part of OpenText's fiscal fourth quarter and year-end results, the company said.

In April, OpenText posted revenue of $263 million and profits of $52.5 million for its fiscal 2011 third quarter, up 23.6% and 30.3%, respectively, compared with the same period a year earlier.

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