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OpenText

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Not to be confused with open text or OpenDocument.

OpenText Corporation
Company typePublic
ISINCA6837151068
IndustryComputer Software
Founded1991; 33 years ago (1991) (as OpenText Corporation)
Founders
HeadquartersWaterloo, Ontario, Canada
Key people
Mark Barrenechea (CEO & CTO)
ProductsEnterprise content management (ECM), business process management (BPM), customer experience management (CEM), information exchange, discovery and analytics software, cybersecurity software
RevenueIncrease US$5.77 billion (2024)
Increase US$887 million (2024)
Increase US$465 million (2024)
Total assetsDecrease US$14.2 billion (2024)
Total equityIncrease US$4.20 billion (2024)
Number of employees
22,900 (2024)
Subsidiaries
Websiteopentext.com
Footnotes / references
Financials as of June 30, 2024[1]

OpenText Corporation (styled as opentext) is a Canadian Information company that develops and sells enterprise information management (EIM) software.[2]

OpenText, headquartered in Waterloo, Ontario, Canada,[3] is Canada's fourth-largest software company as of 2022,[4] and recognized as one of Canada's top 100 employers 2016 by Mediacorp Canada Inc.[5]

OpenText software applications manage content and unstructured data for large companies, government agencies, and professional service firms.[6] OpenText aims its products at addressing information management requirements, including management of large volumes of content, compliance with regulatory requirements, and mobile and online experience management.[7]

OpenText employs 22,900 people worldwide, and is a publicly traded company, listed on the Toronto Stock Exchange and the NASDAQ (OTEX).[1]

History

[edit]

Timothy Bray, with University of Waterloo professors Frank Tompa and Gaston Gonnet, founded OpenText Corporation in 1991.[8] It grew out of OpenText Systems Inc., founded in 1989. The founders spun the company off from a University of Waterloo project that developed technology to index the Oxford English Dictionary.[9]

Key people involved later include Tom Jenkins, who joined the company as COO in 1994. Tom Jenkins later became president and chief executive officer,[10] and has been Executive Chairman since 2013. John Shackleton served as president from 1998 to 2011, and as CEO from 2005 to 2011. Mark Barrenechea has been president and CEO of OpenText since 2012.[11] Mark Barrenechea was named Canadian Business CEO of the year in 2015.[12] From January 2016, Steve Murphy served as the President;[13] however, the company eliminated the position in Q1 2017.[14]

OpenText is a supporter of the University of Waterloo Stratford Campus, contributing both funds and in-kind services to the school.[15]

In July 2020, OpenText has partnered with NINJIO. The collaboration strengthens Webroot Security Awareness Training with interactive, Hollywood-style videos showcasing viral material aimed at encouraging cyber-resilient activities such as phishing emails and inappropriate URLs detected.[16]

Acquisitions

[edit]
Humorous shirt caption detailing employee perspective on the IXOS Software acquisition and industry acquisitions in general

OpenText has acquired several businesses over the past two decades, beginning with IXOS Software AG in 2003,[17] followed by Artesia in 2004.[18] Other notable acquisitions include Hummingbird Ltd. in 2006 for $489 million,[19] Captaris Inc. in 2008 for $131 million,[20] and Vignette Corporation in 2009 for $321 million in cash and stock.[21]

In the early 2010s, it acquired EasyLink (2012) for $232 million[22] and GXS Inc., integrating the latter into the OpenText Business Network, which later acquired Inovis. In 2014, OpenText purchased Cordys for $33 million[23] and Actuate of San Mateo, California.[24] The following year, it acquired Daegis for $13.5 million.[25]

OpenText office in San Mateo, California

On September 12, 2016, OpenText further expanded its share of the enterprise content management software market by buying that division of Dell EMC, which included Documentum, for US$1.6 billion.[26] OpenText had originally had Documentum and Hummingbird, Ltd., as its chief competitors in this space, but this acquisition brought the long-time third competitor in Documentum under one corporate roof.[27] Also in 2016, OpenText acquired Recommind after previously engaging with the company as a strategic partner.[28]

In 2017, OpenText acquired Guidance Software for US$240 million,[29] and Covisint for US$103 million, which they integrated into their OpenText Business Network.[30] In 2018, OpenText acquired Liaison Technologies for US$310 million and integrated into their OpenText ALLOY Platform.[31]

In 2019, OpenText acquired Catalyst Repository Systems,[32] and then acquired Carbonite Inc. (including Webroot and Mozy, which Carbonite Inc. had earlier acquired) for approximately US$1.45 billion.[33][34] In 2020, OpenText acquired Xmedius for US$75 million.[35]

In 2021, OpenText announced planned acquisition of Zix Corp for US$860 million,[36] and in November, OpenText completed the acquisition of Bricata enabling next-generation Network Detection & Response (NDR) technology to the OpenText Security and Protection Cloud.[37]

In 2022, OpenText announced it would acquire British software firm Micro Focus in a deal valued at US$6 billion, which finalized in January 2023.[38][39]

Products

[edit]
OpenText office in Richmond Hill, Ontario

OpenText's products include enterprise content management (OpenText Content Suite, OpenText Extended ECM, OpenText Documentum), Business Network, customer experience management (OpenText Customer Experience Platform), digital process automation (OpenText AppWorks), discovery (OpenText Axcelerate eDiscovery and Investigations), security (OpenText EnCase Forensic Security Suite, OpenText Carbonite and Webroot solutions, OpenText NetIQ, OpenText ArcSight, OpenText Voltage, OpenText Fortify), and AI and analytics (OpenText Magellan Product Suite).

OpenText announced cloud-native containerized versions of many of the company's software applications in April 2020.[40]

Documentum

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OpenText Documentum is an information management platform, named after the company Documentum that originally developed the software suite. In 2003, EMC acquired Documentum for $1.7 billion.[41] In 2016, EMC was acquired by Dell, becoming Dell EMC.[42] Subsequently, all of the Documentum intellectual property was sold to OpenText Corporation.

Document Server Alchemy Edition

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Rebranded product resulting from the acquisition of Captaris

Content Suite Platform

[edit]

In 1996, the product originally called "Livelink" became OpenText's.[43] Between 2003 and 2005, "Livelink" evolved from being the name of a single product to being a brand applied to the names of several OpenText software products. As a result of this change, "Livelink Server" became known as "Livelink Enterprise Server" (LES) and later "Livelink ECM.[43] In 2012, OpenText introduced the OpenText Content Suite. Then the technology component formerly known as Livelink ECM - Enterprise Server became known as OpenText Content Server, which is now a key component of OpenText Content Suite Platform.[43][44][45]

Archive Center (Archive Server)

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First released in May 2006, Livelink Enterprise Archive (LEA) became Archive Server in 2010. It is a key product in the Extended ECM scenario. With Version 16, the Archive Server was renamed to Archive Center.[46]

Magellan

[edit]

In July 2017, OpenText launched its artificial intelligence (AI) and analytics platform, OpenText Magellan, at the company's Enterprise World conference. The platform combines open source machine learning with advanced analysis and is able to merge, manage, and analyse both structure data and unstructured, textual content. It offers machine-assisted decision-making, automation, and business optimization in a scalable, flexible solution.[buzzword][47]

RightFax

[edit]

OpenText RightFax provides network-based fax functionality to enterprise organizations and has evolved through many versions since it was first released in 1992.[48][49][50]

RedDot and content authoring

[edit]
OpenText booth at the AIIM Conference 2012

RedDot, founded in 1993, was a business unit of OpenText Corporation that the company refers to as the Web Solutions Group. The software assists in the management of content, with regulatory compliance and industry specific requirements.[citation needed]

Its core product, RedDot CMS is a Windows-based server application that provides Web content management in a multi-user environment. Complementary to the CMS or as a standalone product, LiveServer aggregates disparate document resources and serves them as Web pages.

Red dots on the authoring interface indicated sections of editable content for each web page,[51] hence the name RedDot for the product. This feature was popular with customers and won awards[52] in 2001 for its usability. By 2006, RedDot was one of the few WCM vendors that continued to develop their own content authoring interface. Most other WCM vendors had moved to open source alternatives, or had licensed an online rich-text editor from commercial vendors such as Ephox or Ektron. In response to customer attempts to work around the limitations of the RedDot editor by installing other editors[53] RedDot developed an integration layer to support CKeditor and Ephox EditLive! as alternative editors.[54] In 2009, RedDot (rebranded the OpenText Web Solutions Group) made the Telerik RadEditor available alongside the existing RedDot editor for CMS 9.[55]

After the acquisition of Vignette, Web Solutions was rebranded again to become OpenText Web Site Management.[56]

Intelligent Capture (formerly Captiva)

[edit]

Captiva Software became a subsidiary of OpenText in 2017.[57] It makes software for document information processing and data capture from paper and electronic documents and provides related services. Information in the form of extracted content and files are acquired in the Captiva Solution and then delivered for storage or workflow into document management systems such as those from Documentum, OpenText, Microsoft, or IBM.[58] In 2019, Captiva was rebranded as OpenText Intelligent Capture.[59]

AppEnhancer (formerly ApplicationXtender)

[edit]

AppEnhancer is a content management system that manages, organizes, and stores information from an application or as an extension to an existing application. The product was acquired during OpenText's purchase of Dell EMC's ECD (Enterprise Content Division) in 2017.[60]

References

[edit]
  1. ^ a b "Open Text Corporation FY 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 1 August 2024.
  2. ^ "Branham Group Inc. > Branham300 > 2010 Edition". www.branham300.com. Archived from the original on 27 October 2017. Retrieved 19 March 2018.
  3. ^ Nick Waddell (29 April 2011). "Cantech Letter interviews John Shackleton of OpenText". Cantech Letter.
  4. ^ MAVERICK, J.B. (September 26, 2022). "The 5 Biggest Canadian Software Companies". Investopedia. Retrieved November 8, 2022.
  5. ^ "Recognized as one of Canada's Top 100 Employers 2016". Mediacorp Canada Inc.
  6. ^ "Open Text Corp". Bloomberg. 23 November 2020.
  7. ^ "Integrate all the things: OpenText would like to knit together application data from across company boundaries". The Register. 23 November 2020.
  8. ^ "OpenText Corporation - Company Profile, Information, Business Description, History, Background Information on OpenText Corporation". Reference for Business. Advameg, Inc. Retrieved 2017-03-05.
  9. ^ Silcoff, Sean (2015-07-19). "Waterloo startup to software leader, OpenText pins future on digitization". The Globe and Mail. Toronto. Retrieved 2017-03-05.
  10. ^ Nick Bontis, ed. (2011). World Congress on Intellectual Capital Readings. Routledge. p. 7. ISBN 9781136347962.
  11. ^ "Investor FAQs | OpenText". investors.opentext.com. Archived from the original on 2016-03-23. Retrieved 2016-02-15.
  12. ^ "Top New CEO of the year". Image and data manager. 2016-07-07. Archived from the original on 2015-10-21. Retrieved 2010-11-16.
  13. ^ Corporation, Open Text. "OpenText Announces CEO to Assume Additional Role of Chief Technology Officer and Appointment of a New President". www.prnewswire.com (Press release). Retrieved 19 March 2018.
  14. ^ "OpenText Reports Third Quarter Fiscal Year 2017 Financial Results" (Press release). 8 May 2017. Archived from the original on 19 March 2018. Retrieved 2 June 2017.
  15. ^ "Grand opening for UW Stratford Campus". Kitchener. 16 October 2012.
  16. ^ "OpenText Partners with NINJIO to Enhance Webroot Security Awareness Training for New COVID-19 Reality". Cision PRNewswire. 21 July 2020. Retrieved 6 August 2020.
  17. ^ Weiss, Todd R. (2003-10-21). "Open Text acquiring Ixos as content management mergers continue". Computerworld. Retrieved 2022-08-26.
  18. ^ "Open Text to acquire Artesia". cnet. 4 August 2004. Retrieved 16 November 2020.
  19. ^ Sayer, Peter (2006-08-08). "Open Text to buy Hummingbird". Computerworld.[permanent dead link‍]
  20. ^ "Open Text to Acquire Document Management Provider Captaris". 2008-09-04.
  21. ^ "Open Text profit dips; says integrating Vignette". Reuters. 2009-08-20.
  22. ^ "OpenText to buy EasyLink Services for $232 million". reuters. 1 May 2012. Retrieved 16 November 2020.
  23. ^ "OpenText buys Cordys" (Press release). 2020-04-01.
  24. ^ Dulaney, Chelsey (5 December 2014). "Open Text to Buy Actuate for $330 Million". The Wall Street Journal. Retrieved 16 November 2020.
  25. ^ "OpenText to acquire Daegis for $13.5-million (U.S.)". Press Reader. 9 October 2015. Retrieved 16 November 2020.
  26. ^ "Waterloo company OpenText signs deal to buy Dell EMC division for $1.62B". Toronto Star. The Canadian Press. September 12, 2016. Retrieved February 2, 2017.
  27. ^ McKinnon, Judy (2016-09-12). "OpenText buys Dell EMC ECD". Wall Street Journal.
  28. ^ "OpenText acquires Recommind". 2 June 2016. Retrieved 2021-02-26.
  29. ^ Miller, Ron (26 July 2017). "OpenText acquires forensic security vendor Guidance Software for $240 million | TechCrunch". Retrieved 2017-08-07.
  30. ^ Pender, Terry (2017-06-06). "OpenText buys cloud computing firm for US$103 million". The Record.
  31. ^ O'Kane, Josh (2018-10-31). "OpenText buys Georgia cloud company for $310-million". The Globe and Mail.
  32. ^ "OpenText acquires Catalyst". February 2019. Retrieved 2021-02-26.
  33. ^ "OpenText to Acquire Carbonite, Inc". Open Text Corporation. 11 November 2019. Retrieved 11 November 2019.
  34. ^ Dignan, Larry (11 November 2019). "OpenText buys Carbonite for $1.42 billion, builds out portfolio". ZDNet. Retrieved 11 November 2019.
  35. ^ "Waterloo's OpenText acquires XMedius". 9 March 2020. Retrieved 9 March 2020.
  36. ^ Haranas, Mark (2021-11-08). "OpenText To Buy Zix For $860 Million To Create 'Powerhouse SMB' Platform; Boost Microsoft Partnership". CRN.
  37. ^ "OpenText acquires Bricata". Archived from the original on 2022-02-25. Retrieved 2022-02-24.
  38. ^ Decloet, Derek (25 August 2022). "Open Text to Buy Software Firm Micro Focus at 99% Premium". Bloomberg News. Archived from the original on 25 August 2022.
  39. ^ Haranas, Mark (31 January 2023). "Layoffs Ahead As OpenText Closes $5.8B Micro Focus Buy". CRN.
  40. ^ "New OpenText CE apps, services roll out". Search Content Management. 23 November 2020.
  41. ^ "EMC offers $1.7 billion in stock for Documentum - Network World". 2009-03-18. Archived from the original on 2009-03-18. Retrieved 2023-03-16.
  42. ^ Press, Gil. "A Very Short History Of EMC Corporation". Forbes. Retrieved 2023-03-16.
  43. ^ a b c "Livelink | OpenText". OpenText. Retrieved 2018-09-13.
  44. ^ "An innovative way to access Livelink® - ppt download". slideplayer.com. Retrieved 2018-09-13.
  45. ^ OVERVIEW OF THE CURRENT VERSIONS OF SELECTED OPENTEXT PRODUCTS (PDF). January 2016.
  46. ^ "OpenText Archive Solutions". OpenText. Retrieved Dec 4, 2019.
  47. ^ "News and Press Releases (PR)". OpenText. Retrieved 2019-12-19.
  48. ^ "OpenText RightFax Overview". OpenText. Retrieved 2020-01-03.
  49. ^ "News and Press Releases (PR)". OpenText. Retrieved 2020-01-03.
  50. ^ "Open Text Introduces New Fax Server Release Following Captaris Acquisition". OpenText. Retrieved 2020-01-03.
  51. ^ "RedDot Professional 4.0 is released worldwide". OpenText press release archive. 17 July 2001. Retrieved 5 April 2009.
  52. ^ "RedDot Professional 4.0 Chosen "Design" Category Winner By Internet World Editors Award winner 2001". OpenText press release archive. 12 July 2001. Retrieved 5 April 2009.
  53. ^ Boyle, Adam (17 November 2008). "RedDot gripes". RedDot-CMS-Users@googlegroups.com. Retrieved 5 April 2009.
  54. ^ Hoffman, Patrick (27 March 2007). "RedDot Upgrades Web Content Management Software". Publish.com. Archived from the original on 12 September 2012. Retrieved 5 April 2009.
  55. ^ "OpenText CMS 9". University Web Developers <uwebd />. 14 January 2009. Archived from the original on 22 August 2009. Retrieved 6 April 2009.
  56. ^ Top Analysts Say Put These 3 Killer Tech Stocks on Your Radar
  57. ^ "OpenText acquires EMC enterprise division". MetaSource. Sep 2016.
  58. ^ "News and Press Releases (PR)". OpenText. Retrieved Dec 4, 2019.
  59. ^ "Captiva is now OpenText Intelligent Capture". Revolution Data Systems. July 2019.
  60. ^ "OpenText AppEnhancer".
[edit]
OpenText building construction in Waterloo, 2011
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