OpenText to Acquire Metastorm
Updated · Feb 04, 2011
Open Text Corporation (NASDAQ: OTEX) has announced that it has entered into an agreement and plan of merger to acquire Metastorm Inc. through a merger of Metastorm with a subsidiary of OpenText. As noted in this news release on PR Newswire, Metastorm is a provider of Business Process Management (BPM), Business Process Analysis (BPA), and Enterprise Architecture (EA) software for aligning strategy with execution.
“Based on the terms of the agreement, Metastorm stockholders will receive $182 million in cash, subject to a customary indemnification holdback. Stockholders representing a majority of the ownership of Metastorm have signed conditional support agreements in support of the transaction.
“The transaction is expected to close in OpenText’s third quarter ending March 31st, 2011, and is subject to customary approvals and Metastorm stockholder consent.”