Open Text Named One Of Canada's Fastest Growing Companies in the Tech100
Canadian Business Magazine Honors the Top Technology Companies in Canada
Waterloo, ON –
Open Text™ Corporation (Nasdaq: OTEX, TSE: OTC), a worldwide leader of collaborative commerce software for e-business, announced today it has been presented with an award acknowledging Open Text as a Tech100 company. Compiled for Canadian Business magazine, the Tech100 is a listing of the top public technology companies in Canada, based on growth rate from 1998 to 1999 revenues.
Having achieved Cdn$137 million in revenue, Open Text attributes its high level of growth to the steady execution of its strategy to extend the market base of the Livelink® product family, providing an increasing number of enterprises with scalable, Web-based, collaborative commerce solutions for e-business.
"Through the Tech 100, Canadian Business magazine recognizes and honors Canada’s preeminent technology solution providers," said John Ruffold, Leader, Arthur Andersen, Technology, Media and Communications Group. "Industry leaders, like Open Text, are providing innovative and dynamic e-business solutions for enterprises, changing the face of technology around the globe."
"I am pleased to accept this award on behalf of Open Text, acknowledging it as one of the top technology companies in Canada," said Alan Hoverd, Chief Financial Officer, Open Text. "A growing number of enterprises are recognizing the competitive advantages of implementing collaborative commerce software to drive their e-business strategies. Open Text’s listing in the Tech100 is proof of our continued strength in providing innovative, scalable solutions."
Produced by Arthur Andersen's Technology, Media and Communications industry group for Canadian Business magazine, the Tech100 recognizes the top public technology companies in Canada. Based on 1999 fiscal end revenue, companies listed must have headquarters in Canada, technology as its core business and be listed on a public stock exchange.
On May 24, 2000, Open Text announced it had been recognized as a 2000 PROFIT 100 company, the list of winners from an annual ranking by PROFIT Magazine of the 100 fastest growing companies in Canada based on the percentage of five-year sales growth, from 1994 to 1999. Having 5,255 percent sales growth over the past five year period, Open Text ranked 14th overall in the 2000 PROFIT 100.
Arthur Andersen's vision is to be the partner for success in the new economy. The organization helps clients find new ways to create, manage and measure value in the rapidly changing global economy. With world-class skills in assurance, tax, consulting and corporate finance, Arthur Andersen has more than 77,000 people in 84 countries who are united by a single worldwide operating structure that fosters inventiveness, knowledge sharing and a focus on client success. Since its beginning in 1913, Arthur Andersen has realized 86 years of uninterrupted growth, with 1999 revenues of more than US$7 billion. Arthur Andersen is a business unit of Andersen Worldwide.
Livelink is a highly scaleable e-business application. Its richly- featured enterprise services include virtual team collaboration, business process automation, enterprise group scheduling and information retrieval services, all tightly integrated into a solution that is easily customized and extended. Livelink is essential to the effective management and development of communities of interest that span organizations and industries. For everything from the creation of complex e-community relationships to the automation of simple e-business processes, Livelink delivers true dynamic collaboration between individuals, organizations, and large trading communities. Livelink servers are fully Web-based and open-architected to ensure rapid deployment and easy access to its full functionality through a standard Web browser.
About Open Text
Open Text has pioneered the development of innovative intranet and extranet e-business applications. Since creating one of the first search engines to index the World Wide Web, the Company has remained at the forefront of Internet-based technologies. Its product family called Livelink enables individuals, teams, organizations, and global trading communities to collaborate on e-business applications that facilitate e-commerce and other transactions among Global 2000 organizations. Open Text has become one of the largest providers of Web based collaboration for e-business applications for e-communities of all types from intranets to extranets and public groups. The Livelink product family has over 4 million users in over 4,000 installations in 31 countries, speaking 12 languages throughout the world. For more information, visit www.opentext.com.