Open Text Takes Leadership Position in Software Solutions for the Legal Market, Outlines Strategy
Following its Hummingbird Acquisition, Open Text Details Continued Investment and Development Plans for Products, Solutions Targeted to the Legal Market
Chicago, IL - 2006-10-17 - Open Text Corporation (NASDAQ: OTEX, TSX: OTC), the largest independent provider of Enterprise Content Management (ECM) software and solutions, today announced its strategy for continued leadership as a provider of ECM solutions for the legal market, reaffirming its commitment and ongoing investment in the product portfolio and support of its global base of legal customers.
Open Text Legal Solutions provide an integrated product offering developed specifically to support law firms business practices and proactive compliance needs throughout the lifecycle of a legal matter. Open Text software and solutions are deployed at many of the world s largest law practices and professional services organizations including nine of the top 10 global law firms and more than 65 percent of AmLaw 100 firms.
The merger of Hummingbird and Open Text has resulted in a leading independent ECM vendor that is one of the top three vendors in this rapidly consolidating market, said Sue Hall, CTO, Baker & McKenzie and co-chair of Open Text Legal CIO Advisory Board. This brings exciting possibilities for legal customers both in terms of products and services. I am looking forward to working with Open Text management to help deliver solutions that meet the needs of the legal market.
Open Text Legal Solutions portfolio includes Livelink ECM -- eDOCS DM (formerly Hummingbird Enterprise DM) and LegalKEY® practice support solutions featuring Matter Lifecycle Management, New Business Intake , Conflicts Management , Records Management and Critical Dates Management systems, all tailored specifically to the way that information flows and is used in law firms.
As part of its commitment to the legal market and Livelink ECM -- eDOCS DM customers, Open Text declared the Tallahassee office, the development and support location for Livelink ECM -- eDOCS DM, as a primary development site for the combined company moving forward.
Hummingbird s position in the legal market, its commitment to the legal industry and its ability to predict and respond to law firm needs was one of the key strategic factors behind our acquisition, said John Shackleton, President and Chief Executive Officer, Open Text. We will continue to support, innovate and further develop solutions to better serve the needs of the legal community as their practice and application requirements evolve.
Open Text is planning to uphold the Legal CIO Advisory Board that was formed in 2003. The Board is comprised of a diverse group of Chief Information Officers who represent a broad cross section of law firms globally in terms of geography, size and products deployed. The Board will continue to provide a forum where thought leaders of the legal market will provide Open Text Legal Solutions Group with strategic input and direction with respect to products, solutions and go-to-market strategies.
Open Text will present a high level product roadmap at the upcoming LivelinkUp Phoenix global user conference in November, and will unveil a detailed product roadmap at the Summit 2007 User Conference in February. In addition, LegalKEY customers will be able to preview new offerings and the expanded portfolio of proactive compliance solutions for professional services firms at Convergence V, the annual user conference for LegalKEY customers, to be held in May 2007.
About Open Text Legal Solutions
Open Text practice support solutions provide an end-to-end proactive compliance framework to ensure that information is properly captured, reviewed, utilized and stored throughout the lifecycle of a matter -- from initial client/matter intake through to final disposition. For more information, visit: http://www.opentext.com/2/sol-industry/sol-ind-legal.htm.
About Open Text
Open Text is the world's largest independent provider of Enterprise Content Management software. The company's solutions manage information for all types of business, compliance and industry requirements in the world's largest companies, government agencies and professional service firms. Open Text supports approximately 46,000 customers and millions of users in 114 countries and 12 languages. For more information about Open Text, visit www.opentext.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
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. The risks and uncertainties that may affect forward-looking statements include, among others, the failure to develop new products, risks involved in fluctuations in currency exchange rates, delays in purchasing decisions of customers, 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, demand for the Company's products 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, 2006. 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
+1-519-888-7111 ext.2410
mdobbin@opentext.com
Richard Maganini
Open Text Corporation
1-847-961-0662
rmaganin@opentext.com