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OpenText company logo
Corporation
SOFTWARE (NON-INTERNET/MOBILE) | Content Management Software
opentext.com

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Investments

7

Portfolio Exits

3

Funds

1

Partners & Customers

10

Service Providers

1

About OpenText

OpenText (NASDAQ: OTEX) is a software company that helps organizations manage their business content. It helps organizations capture and preserve corporate memory and increase brand equity, automates processes and manages risk. The OpenText ECM Suite is a product by the company which is a content management software providing document management, record management, email management and web content management. The company was founded in 1991 and is based in Waterloo, Ontario.

Headquarters Location

275 Frank Tompa Drive

Waterloo, Ontario, N2L 0A1,

Canada

800-499-6544

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Expert Collections containing OpenText

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OpenText Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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OpenText Rank

Latest OpenText News

OpenText Completes Notes Offering and Term Loan Amendment as part of Micro Focus Acquisition Financing

Dec 1, 2022

12/01/2022 | 11:01am EST Message : *Required fields WATERLOO, ON, Dec. 1, 2022 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) announced today that, in connection with its proposed acquisition (the "Acquisition") of Micro Focus International plc ("Micro Focus"), Open Text Corporation (the "Company" or "OpenText") has closed its offering (the "Notes Offering") of US$1 billion principal amount of 6.90% senior secured fixed rate notes due 2027 (the "Notes") and executed an amendment to its first lien term loan facility due 2029 (the "Term Loan"). As a result, the entire previously announced US$4.585 billion aggregate debt financing package for the Acquisition is now finalized, and, as such, all commitments under the bridge loan agreement related to the Acquisition have been correspondingly terminated undrawn. "With today's announcement, we have completed a solid long-term capital structure for the Acquisition," said OpenText CEO & CTO Mark J. Barrenechea. "We now have Micro Focus shareholder approval and a completed capital structure in place. We remain on track to close the Acquisition next quarter and look forward to soon welcoming customers, partners and employees." The net proceeds from the Notes Offering, borrowings under the Term Loan and the Company's existing revolving credit facility, and cash on hand will be used to fund the Acquisition. After giving effect to the Notes Offering and the above noted borrowings, following closing of the Acquisition, the Company's long-term debt would be approximately US$9.3 billion (consisting of approximately 46% fixed and 54% floating rate debt), with a weighted average interest rate of approximately 5.88% and a weighted average maturity of approximately 6 years. As previously announced, through the combined company's cash generating profile and rapid de-levering plan, OpenText is targeting a net leverage ratio of less than three times within eight quarters following the closing of the Acquisition. Additional Information The Notes and the Term Loan are guaranteed on a senior secured basis by OpenText's existing wholly-owned subsidiaries organized in the United States or Canada that borrow or guarantee OpenText's obligations under its senior credit facilities. The Term Loan is also guaranteed on a senior secured basis by Open Text UK Holding Limited and, concurrent with or within one business day of the closing of the Acquisition, the Notes will be guaranteed on a senior secured basis by Open Text UK Holding Limited. The Notes and related guarantees are secured with the same priority as the Company's senior credit facilities. The Notes and related guarantees are not registered under the Securities Act of 1933, as amended (the "Securities Act"). The Notes and the related guarantees were issued pursuant to Rule 144A and Regulation S under the Securities Act. The Notes and related guarantees may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act), except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain persons in offshore transactions in reliance on Regulation S under the Securities Act. The Notes have not been and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of, any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, qualification or exemption under the securities laws of any such jurisdiction. About OpenText OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. Publication on a website This announcement and certain associated documents will be available, subject to certain restrictions, on OpenText's website at https://investors.opentext.com/ by no later than 12 noon (London time) on the business day following the publication of this announcement. This announcement and certain associated documents available on OpenText's website are only being provided to comply with the requirements under the UK City Code on Takeovers and Mergers. Neither the content any of the websites referred to in this announcement nor the content of any website accessible from hyperlinks in this announcement is incorporated into, or forms part of, this announcement. Cautionary Statement Regarding Forward-Looking Statements Certain statements in this announcement, including statements regarding OpenText's targeted net leverage ratio and timing thereof, OpenText's plans, objectives, expectations and intentions relating to the Acquisition, the Acquisition's expected contribution to OpenText's results, closing of the Acquisition and certain conditions to be met prior to borrowing under the Term Loan, as well as the expected timing and benefits of the Acquisition, impact on future financial performance including in respect of annual recurring revenues, cloud growth, adjusted EBITDA, cash flows and earnings, may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which OpenText operates, as well as the impact of the ongoing COVID-19 pandemic. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by OpenText at the date of this announcement, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors, which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the Securities and Exchange Commission and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Copyright © 2022 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents . OTEX-MNA

OpenText Investments

7 Investments

OpenText has made 7 investments. Their latest investment was in DotDash as part of their Series C on December 12, 1998.

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OpenText Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/7/1998

Series C

DotDash

$15M

No

10/15/1998

Series C

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$99M

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10

1/1/1998

Series B - II

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$99M

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0

11/15/1997

Series B

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$99M

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10

10/1/1997

Series B

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$99M

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0

Date

12/7/1998

10/15/1998

1/1/1998

11/15/1997

10/1/1997

Round

Series C

Series C

Series B - II

Series B

Series B

Company

DotDash

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Amount

$15M

$99M

$99M

$99M

$99M

New?

No

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Co-Investors

Sources

10

0

10

0

OpenText Portfolio Exits

3 Portfolio Exits

OpenText has 3 portfolio exits. Their latest portfolio exit was DotDash on February 21, 2001.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/21/2001

Acquired

$99M

3/24/1999

IPO

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$99M

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0

4/12/1996

IPO

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$99M

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10

Date

2/21/2001

3/24/1999

4/12/1996

Exit

Acquired

IPO

IPO

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

0

10

OpenText Acquisitions

34 Acquisitions

OpenText acquired 34 companies. Their latest acquisition was Micro Focus on August 25, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/25/2022

$99M

Acq - Pending

2

11/24/2021

Debt

$99M

$11.28M

Acquired

4

11/8/2021

Other Venture Capital

$99M

$43.86M

Acq - Pending

4

3/9/2020

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$99M

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10

12/24/2019

Series D

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$99M

$99M

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10

Date

8/25/2022

11/24/2021

11/8/2021

3/9/2020

12/24/2019

Investment Stage

Debt

Other Venture Capital

Series D

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$11.28M

$43.86M

$99M

Note

Acq - Pending

Acquired

Acq - Pending

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Sources

2

4

4

10

10

OpenText Fund History

1 Fund History

OpenText has 1 fund, including OpenText Enterprise Applications Venture Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/23/2014

OpenText Enterprise Applications Venture Fund

1

Closing Date

1/23/2014

Fund

OpenText Enterprise Applications Venture Fund

Fund Type

Status

Amount

Sources

1

OpenText Partners & Customers

10 Partners and customers

OpenText has 10 strategic partners and customers. OpenText recently partnered with Datacentrix on October 10, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

10/27/2022

Distributor

South Africa

1

10/26/2022

Partner

United States

OpenText Core Content Integrates and Innovates with Google Workspace

Another foundation of the partnership is Google Cloud 's ability to support public cloud applications like Core as well as private cloud deployments of OpenText applications in multiple geographies , while ensuring corresponding regulatory requirements are met .

1

10/5/2022

Partner

United States

OpenText unveils new integrations and innovations with Google Cloud at OpenText World 2022

Another foundation of the partnership is Google Cloud 's ability to support public cloud applications like Core as well as private cloud deployments of OpenText applications in multiple geographies , while ensuring corresponding regulatory requirements are met .

3

10/5/2022

Partner

United States

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10

9/28/2022

Partner

United States

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10

Date

10/27/2022

10/26/2022

10/5/2022

10/5/2022

9/28/2022

Type

Distributor

Partner

Partner

Partner

Partner

Business Partner

Country

South Africa

United States

United States

United States

United States

News Snippet

OpenText Core Content Integrates and Innovates with Google Workspace

Another foundation of the partnership is Google Cloud 's ability to support public cloud applications like Core as well as private cloud deployments of OpenText applications in multiple geographies , while ensuring corresponding regulatory requirements are met .

OpenText unveils new integrations and innovations with Google Cloud at OpenText World 2022

Another foundation of the partnership is Google Cloud 's ability to support public cloud applications like Core as well as private cloud deployments of OpenText applications in multiple geographies , while ensuring corresponding regulatory requirements are met .

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Sources

1

1

3

10

10

OpenText Service Providers

1 Service Provider

OpenText has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Acq - P2P

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Acq - P2P

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

OpenText Team

53 Team Members

OpenText has 53 team members, including , .

Name

Work History

Title

Status

Halsey Minor

Founder

Current

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Name

Halsey Minor

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Work History

Title

Founder

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Status

Current

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