OpenText To Buy HP' Certain Customer Experience Software Assets In $170 Mln Deal

(RTTNews) - Open Text Corp. (OTEX, OTC.TO) said that it has entered into a definitive agreement to acquire certain customer experience software and services assets from HP Inc. (HPQ) for about $170 million.

The software assets acquired include HP TeamSite, a modern multi-channel digital experience management platform for web content management, HP MediaBin, a digital asset management solution, HP Qfiniti, an intelligent workforce optimization solution designed to improve enterprise contact center management, as well as HP Explore, HP Aurasma, and HP Optimost.

The Customer Experience software business being acquired is expected to generate between $85 million and $95 million of annualized revenues, be immediately accretive and be on the OpenText operating model within the first 12 months after closing. The transaction is expected to close in the fourth quarter of fiscal 2016 and is subject to customary regulatory approvals and closing conditions.

OpenText expects that the acquisition will complement its current software portfolio, particularly its Customer Experience Management and Cloud offerings, allowing OpenText to better serve its customers by offering them a wider selection of software solutions. In addition, this acquisition is expected to enhance the multi-channel digital experience of OpenText's customers by providing them with leading software products in marketing optimization, mobile marketing, and voice of the customer programs.