OpenText Finalizes Acquisition of Recommind
OpenText’s acquisition of Recommind, Inc., announced earlier this year, has now been finalized after the company officially closed on the deal.
According to OpenText, the acquisition will add to its own EIM solutions with Recommind's platform and solution suite, including e-discovery and analytics capabilities that will provide increased visibility into structured and unstructured data.
Through the acquisition, OpenText customers will benefit from Recommind's analytics solutions for e-discovery, investigations, contract analysis, and information governance including Decisiv Search, Perceptiv and Axcelerate.
Unlocking the value of enterprise information requires finding, analyzing and making sense of these large volumes of information, said Mark J. Barrenechea, OpenText CEO and CTO. Recommind information analytics can be used to solve problems at a scale not previously feasible without machine learning and is expected to be a critical component of the OpenText EIM strategy, Barrenechea noted.
The terms of the purchase were not made public.
For more information about this deal, visit www.opentext.com.
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Acquisition will strengthen OpenText's position in e-discovery, EIM, analytics, and cloud