ECM behemoth cites ‘commitment to business process management’ and ‘accelerates move into dynamic case management’ as rationale for US$260m deal
By ECM Plus staff
ECM Plus +++ OpenText has just acquired Global 360 Holding Corporation, the business process and case management software bellwether.
According to Open Text, the deal sees OpenText continuing on its expansion into the business process management market.
The transaction purchase price is approximately $260 million (1), subject to customary purchase price and holdback adjustments. Global 360 has generated approximately $90 million in trailing twelve months revenue and is profitable. The transaction has closed in the first quarter of fiscal 2012 and is not part of the fiscal 2011 fourth quarter and year-end results of OpenText. The management team of OpenText will provide further information regarding the future plans of the combined company when it provides fiscal year-end results on August 10, 2011.
Global 360 is based in Dallas, Texas with customers in 70 countries, is known for its case management solutions, its document-centric BPM, and its emphasis on usability and user experience in its software. In February 2011, OpenText also acquired Metastorm, a BPM leader with strong and complementary capabilities, including support for human-centric BPM. Metastorm also offers other solutions that complement Global 360, such as business process analysis and enterprise architecture software.
Open Text said that the new increased investment in the BPM market demonstrates its focus on strategic acquisitions of technologies that build out its extended portfolio of solutions. The two acquisitions bring an extended base of expertise some 300 people in R&D alone dedicated to BPM and dynamic case management solutions, plus a further reach in key verticals such as financial services, energy, government, life sciences and other industries. OpenText can now solve a much broader range of customer requirements, and at the same time extend its reach across all facets of solutions involving content and business processes
Global 360’s major, case-based operations in large organizations are heavily dependent on content and process management, for example, loan processing, complaint management, claims processing and customer on-boarding. All of these solutions can benefit from dynamic case management, which more effectively combines content, processes and collaboration, said Eugene Roman, Chief Technology Officer, OpenText. Dynamic case management is the kind of technology customers are moving to and it ties together the strengths we re building in our ECM and BPM portfolios.
“With its strategic emphasis on content, process and dynamic case management, plus its strong Microsoft relationship, OpenText is a great fit for our customers and our team,” commented Steve Russell, Global 360 s Senior Vice President, Research & Development and CTO. “Customers can expect us to continue to deliver our leading solutions, plus gain even greater value through access to an expanded solutions portfolio and the support of a much larger company.”