For followers of the Canadian tech scene, the usual move to see in M&As is a local company being acquired by a U.S. corporation, but Waterloo’s OpenText is reversing the trend.
The information management solutions company OpenText has announced the acquisition of Liaison, a Georgia-based enterprise information management platform, for $310 million in an all-cash transaction. The deal is expected to close within 90 days. Liaison has just under 500 employees and over 4,000 global clients.
The move by OpenText will allow the company to enhance their digital ecosystem and B2B solutions, as well as expand their footprint in the life sciences and healthcare industries. Beyond that, OpenText will leverage the acquisition to address the quickly-moving markets adjacent to their own, including integration platform-as-a-service (iPaaS) with a managed services approach.
As one of the country’s most successful tech companies, OpenText took in $2.8 billion USD in revenue for the fiscal year of 2018.