OpenText Buys Recommind, Inc.
Company Expands eDiscovery and Information Analytics Footprint
Waterloo, Ontario –
OpenText™ (NASDAQ: OTEX, TSX: OTC), a global leader in Enterprise Information Management (EIM), today announced that it has closed its previously announced acquisition of Recommind, Inc., a leading provider of eDiscovery and information analytics. Recommind’s SaaS and managed services solutions deliver insight from unstructured data to help people make better, faster business decisions.
Complementing OpenText’s own leading EIM solutions, Recommind’s platform and solution suite include eDiscovery and analytics to provide increased visibility into structured and unstructured data. Through the acquisition, OpenText customers will benefit from Recommind’s analytics solutions for eDiscovery, investigations, contract analysis, and information governance including Decisiv Search, Perceptiv and Axcelerate.
“Unlocking the value of Enterprise Information requires finding, analyzing and making sense of these large volumes of information,” said Mark J. Barrenechea, OpenText CEO and CTO. “Recommind information analytics can be used to solve problems at a scale not previously feasible without machine learning and is expected to be a critical component of the OpenText EIM strategy. With its technology, talent and market opportunity, Recommind offers an extraordinary opportunity and we are pleased to welcome them to OpenText.”
As a leader in the development of best practices in the areas of eDiscovery and information analytics, Recommind is trusted by successful corporations, premier law firms and key regulatory agencies around the world. Information is the lifeblood of these organizations and Recommind delivers breakthrough software applications that harness the power of this information in order to solve concrete business problems.
The OpenText EIM strategy enables organizations to discover and manage information to spur growth and innovation and decrease time to competitive advantage. The OpenText EIM strategy consists of comprehensive and integrated solutions including Content Suite, Process Suite, Experience Suite, Discovery Suite, Business Network and Analytics.
OpenText is the largest independent software provider of Enterprise Information Management (EIM). For more information please visit www.opentext.com.
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Vice President, Investor Relations
Open Text Corporation
San Mateo, CA: (415) 963-0825
Vice President, Corporate Communications
Open Text Corporation
San Mateo, CA: (650) 302-4191