Content management software company OpenText announced it is buying Guidance Software, a Pasadena-based forensic security and eDiscovery vendor in a deal valued at $222 million US.
Guidance Software are the makers of EnCase, forensic technology used to recover evidence from mobile devices and seized hard drives.
OpenText has agreed to pay $7.10 per share in cash for Guidance Software. The Waterloo-based firm announced it was acquiring the forensic security company for a total equity value of approximately $240 million, less Guidance Software’s cash.
OpenText said in a press release the acquisition is expected to complement its portfolio of software and services and also broaden their information security capabilities. This move adds to OpenText’s existing digital discovery solutions and file analytics portfolio and bolsters the company’s forensics division.
This latest acquisition follows OpenText’s reveal of their new AI-powered platform Magellan at their annual user conference in Toronto. In January, OpenText closed a $1.62 billion transaction for Dell EMC’s Enterprise Content Division including Documentum.