OpenText just announced its acquisition of the cloud-based software company Catalyst repository systems inc. for more than $98 million CAD. It’s important news for Mobile Application Development Companies in Denver.
The Colorado-based Catalyst foundation was laid in 2000 and it offers cloud-based software for managing electronic legal discovery, otherwise known as eDiscovery. The company’s platform can be used by legal professionals in Asia and North America, and the second office out of Japan.
OpenText’s CEO and CTO Mark J.Barrenechea mentioned that Catalyst adds to the strength of OpenText’s in eDiscovery as it looks forward in building the World’s top legal tech platform. OpenText and Catalyst … combines a powerful set of solutions for helping the corporate legal departments and law firms squeeze the maximum out of the opportunities of digital transformation, automation, machine learning and AI.
This has been an all cash-transaction.
The popular Canadian enterprise information management software company recently announced that the acquisition of the liaison is now complete. It is a cloud-based information integration as well as data management solutions, and was acquired for $310 million. If we go by the website, OpenText acquired 6 companies that include Catalyst since 2017. This includes Hightail in February. It also acquired Dells enterprise content division for 1.62 billion dollars. Mobile application development Denver companies will find this important definitely.
The company was up with an announcement on Thursday, its second quarter financial results. And it listed a total revenue of around $735 million USD. And hence there has been $1 million increase since second quarter last year.
Our strategy has been total growth as well as we will embark mainly on mergers and acquisitions, according to Barrenechea. And he further mentioned that over the last 69 years, they have deployed around $386 million in the capital as well as closed two of the very important cloud-based acquisitions. Their team is very talented, and an increasingly strategic position with customers, as well as t is positioned to scale OpenText to a record height in coming years.
OpenText is planning to build on the acquisitions as well as mergers for building the cloud revenue, and that was confirmed in Q2 financial report. It’s a signal for all Mobile Application Development Companies In Denver CO, and for both looking to be acquired and one who want to acquire,