Waterloo’s OpenText acquires XMedius
Posted Mar 9, 2020 01:28:27 PM.
Another acquisition for OpenText.
The Waterloo-based company has purchased Montreal's XMedius for $75 million (U.S.).
XMedius is described as a provider of secure information exchange and unified communication solutions.
“With more than 50,000 installations worldwide, the acquisition of XMedius further strengthens OpenText's leadership in secure information exchange, unified communications and digital fax,” Mark J. Barrenechea, OpenText CEO & CTO, said in a release.
“We welcome XMedius's customers, strong partner network and employees to OpenText. The acquisition reaffirms our commitment to Montreal, already a strategic hub for our analytics and AI development teams. Together, we will bring leading cloud and hybrid solutions to enterprises and small to mid-sized businesses.” he added.
OpenText expects first year revenues to be down, up to 20 per cent due to customary purchase price accounting adjustments and typical integration activities.
