Cimdata Logo

Industry Summary Articles

Thursday, June 08, 2017

OpenText to Acquire Covisint

OpenText™ announced today that it has entered into a definitive agreement to acquire Covisint Corporation, the leading Cloud platform for building Identity, Automotive, and Internet of Things (IoT) applications.   

The acquisition is expected to deepen OpenText's EIM offering with a cloud-based IoT platform-as-a-service and expand OpenText's presence in the Automotive industry through strong customer relationships and strategic partnerships for supply chain collaboration.  Covisint will be integrated into the OpenText Business Network, a portfolio of cloud solutions and software that facilitates efficient, secure, and compliant information flows between organizations.

Terms of the Agreement
The transaction purchase price of $2.45 per share is approximately $103 million of market value, or $75 million of enterprise value.  OpenText intends to fund the transaction with cash on hand.  The transaction is expected to close in the third quarter of calendar 2017 and is subject to customary closing conditions, including approval by shareholders of Covis

To view the original press release, please click here.

Search for OpenText on CIMdata.com

int. 

r
ipad background image

Featured Cimdata Reports

ipadcontent
PLM-Enabled Digital Transformation Benefits Appraisal Guide

The Guide is designed to help potential PLM users evaluate the applicability and payoffs of PLM in their enterprise, and to help existing users of PLM monitor the impact it is having on their product programs.

ipadcontent
PLM Market Analysis Reports

The PLM MAR Series provides detailed information and in-depth analysis on the worldwide PLM market. It contains analyses of major trends and issues, leading PLM providers, revenue analyses for geographical regions and industry sectors, and historical and projected data on market growth.

ipadcontent
PLM Market Analysis Country Reports

These reports offer country-specific analyses of the PLM market. Their focus is on PLM investment and use in industrial markets. Reports cover Brazil, France, Germany, India, Italy, Japan, Russia, South Korea, the United Kingdom, and the United States.

ipadcontent
Simulation & Analysis Market Analysis Report

This report presents CIMdata’s overview of the global simulation and analysis market, one of the fastest growing segments of the overall product lifecycle management market, including profiles of the leading S&A firms.

ipadcontent
CAM Market Analysis Report

This report presents CIMdata’s overview of the worldwide CAM software and services market. It also includes a discussion on the trends in the CAM industry and updates on the top CAM solution providers.