Open Text Corporation Advises Scandinavian Distributor It Has Lost Exclusive Distribution Rights
Waterloo, ON - 2000-01-10 - Open Text Corporation (NASDAQ: OTEX, TSE: OTC), today released the following in response to inquiries from investors:
Effective January 5, 2000, Open Text Corporation has notified NetSys Technology Group AB, a distributor of software located in Sweden, that it has failed to meet certain revenue commitments for 1999. Pursuant to an agreement between the two companies, Open Text has informed NetSys that under their agreement, NetSys is no longer an exclusive distributor of Open Text software products in Scandinavia, and it must now renegotiate a non-exclusive distribution agreement for Scandinavia.
This action by Open Text is without prejudice to the position taken by Open Text in an on-going dispute with NetSys, which is presently under arbitration.
For more information, please contact
Margaret E. Dobbin
Director, Industry Analyst Relations
Open Text Corporation
+1-519-888-7111 ext.2410
mdobbin@opentext.com