OpenText today announced that it has entered into a definitive agreement to acquire ANXeBusiness Corp. (ANX), a leading provider of cloud-based information exchange services to the US Automotive and Healthcare industries. ANX is expected to be integrated into the OpenText Business Network, a portfolio of cloud solutions and software designed for efficient, secure and compliant supply chain and business collaboration between organizations.
Complementing OpenText’s existing B2B integration solutions, ANX is expected to strengthen OpenText’s industry presence and reach in the Automotive and Healthcare industries through strong customer relationships and targeted business partner collaboration solutions. With ANX, OpenText anticipates it will continue to address industry specific B2B requirements to provide all organizations with reliable, secure and compliant information exchange that meets their specific needs. The acquisition of ANX is also expected to enhance the scope of trading partner collaboration within the OpenText Business Network to include product design and planning.
The transaction purchase price is approximately $100 million. The acquisition is expected to generate approximately $30 million of annualized revenues, be both accretive and on the OpenText operating model, immediately. The transaction is expected to close in the fourth quarter of fiscal 2016 and is subject to customary closing conditions.
