Open Text to acquire Hummingbird
Open Text has entered into a definitive agreement to acquire all of Hummingbird's outstanding shares in an all-cash transaction. The deal is valued at US$27.85 per share, or approximately US$489 million). Open Text says Hummingbird's strength in the legal and government fields will significantly enhance its ECM offerings aimed at vertical markets and regulatory compliance.
Open Text also reports that its First Class division has released the latest version of it collaboration suite. The company explains that Version 8.3 enables collaboration and enhances communication through any Internet-accessible device. Applications include: e-mail, instant messaging, calendars, contact management, workgroup collaboration, document sharing, file storage, Web publishing, blogging, podcasting, and unified voice and fax messaging.