Open Text acquires PSSoftware

In a move to expand its records management functionality, Open Text has acquired PSSoftware.

Open Text, which acquired all the shares of PSS, will create a records management division and add the functionality into its Livelink product.

"The agreement with PSSoftware will broaden our document management capability by providing Livelink users with more advanced records management, for full life-cycle management of electronic documents," said Tom Jenkins, CEO of Open Text. "With this acquisition, we are pleased to join the Canadian Government's RDIMS project specifications through PSS. We believe Livelink will bring significant enhancements to this application, as well as other applications presently delivered by PSS to its customers."

A study by The Delphi Group points out that Open Text is the first of the DM vendors to integrate with records management products by acquisition. However, other DM vendors have done so through partnerships, they said.

“When available, OpenText's product will likely have broad appeal among those evaluating electronic records solutions because it resolves the dilemma of product version synchronization in the hybrid solutions offered today,” according to The Delphi Group