Open Text Joins Internet Law & Policy Working Group Focused on Compliance and Information
Chicago, IL. - 2005-03-07 - Open Text Corporation (Nasdaq: OTEX, TSX: OTC), the world's largest provider of Enterprise Content Management (ECM) software, today announced it has joined the Compliance and Management of Electronic Information (CMEI) Working Group. Together with several leading technology vendors, Open Text will help develop a global, cross-industry framework that will help customers manage electronic information for regulatory compliance. The news was announced today in a joint release issued by the CMEI vendors and the Internet Law & Policy Forum (http://www.ilpf.org/about/2005Mar07.htm).
Open Text offers software solutions that manage online content for a broad range of regulatory compliance standards globally, including corporate governance laws and regulations in industries such as pharmaceuticals, financial services, healthcare, energy and others. Open Text s compliance solutions, offered through its Livelink ECM suite, include document lifecycle management, business process management, records management, e-mail management and more.
"The CMEI Working Group offers an excellent opportunity for technology providers to work together to help customers with compliance management," said Bill Forquer, Executive Vice President of Marketing at Open Text. "We look forward to participating in CMEI and to contributing our expertise in applying ECM software to compliance standards in many industries."
The CMEI Working Group will develop and publish best practices, checklists and summaries of legal and regulatory requirements to provide compliance guidance. Additionally, the group will hold a series of forums where technology vendors, regulated entities, government leaders and policy experts can discuss the impact of law on end users and develop recommendations and guidelines that will facilitate compliance while allowing companies to continue effective business operations.
"We are glad to bring this group of industry leading companies together to tackle one of the most pressing challenges facing business today," said Andrew Konstantaras, Executive Director, Internet Law & Policy Forum. "Working together, this group can facilitate discussion around compliance processes and deliver more effective compliance solutions to their customers."
Open Text joins Hitachi Data Systems, HP, Network Appliance, Oracle, Plasmon, Sun Microsystems and VERITAS Software Corporation to provide guidance on best practices for compliance with information retention and maintenance regulations. Additionally, the group will work with public and private sector representatives to improve collaboration between business, technology and regulatory bodies.
For more information about the CMEI Working Group and to join the listserv, please fill out the information at: www.ilpf.org/CMEI-Signup.html.
Founded in 1995, the Internet Law and Policy Forum (ILPF) is dedicated to the sustainable global development of the Internet by bringing law, policy, business sand technology together as it addresses some of the most critical issues facing the Internet. The ILPF is an international nonprofit organization whose member companies develop and deploy the Internet in every aspect of business today. Through its conferences, working groups, and expert workshops, the ILPF provides a neutral forum and international perspective in order to discover best practices and develop practical solutions for the multi-faceted challenges posed by the Internet. For more information, please see www.ilpf.org.
About Open Text
Open Text is the market leader in providing Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Throughout its history, Open Text has matched its tradition of innovation with a track record of financial strength and growth. Today, the company supports almost 20 million seats across 13,000 deployments in 114 countries and 12 languages worldwide. For more information on Open Text, go to: www.opentext.com
Copyright © 2005 by Open Text Corporation. LIVELINK and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.
This news release may contain forward-looking statements relating to the success of any of the Company s strategic initiatives, the Company s growth and profitability prospects, the benefits of the Company s products to be realized by customers, the Company s position in the market and future opportunities therein, the deployment of Livelink and our other products by customers, and future performance of Open Text Corporation. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Form 10-K for the year ended June 30, 2004. You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.
For more information, please contact
Margaret E. Dobbin
Director, Industry Analyst Relations
Open Text Corporation
Open Text Corporation