Open Text To Buy Dell EMC's Enterprise Content Division For $1.62 Bln

(RTTNews) - Open Text Corp. (OTEX, OTC.TO) announced it has entered into a definitive agreement to acquire Dell EMC's Enterprise Content Division, including Documentum. The purchase price of the deal is $1.62 billion.

The Enterprise Content Division of Dell EMC offers a suite of leading Enterprise Content Management solutions including the Documentum, InfoArchive, and LEAP product families. Under the agreement, the software, associated services, and employees of ECD will be integrated into OpenText.

The acquisition is expected to deepen OpenText's EIM offering with a substantial portfolio focused on Enterprise Content Management and Information Life Cycle Management. OpenText and Dell EMC also announced their intention to negotiate and enter into a strategic commercial partnership to expand customer offerings and to better serve customer needs.