OpenText Corp (TSX, Nasdaq: OTEX) has acquired Catalyst Repository Systems Inc, a Denver, Colorado-based provider of e-discovery software and services for corporate legal departments and law firms.
The purchase price is about $100 million (US$75 million) in an all-cash deal.
OpenText, a Waterloo-based enterprise information management company, said the acquisition confirms its position as an e-discovery technology provider to the legal industry.
Founded in 2000, Catalyst has been backed since 2012 by FTV Capital, a U.S. growth equity firm.
OpenText Buys Catalyst Repository Systems, Inc.
A Leading Provider of eDiscovery Solutions for the Legal Industry
WATERLOO, Ontario, Jan. 31, 2019 /CNW/ — OpenText™ (NASDAQ: OTEX), (TSX: OTEX), a global leader in Enterprise Information Management (EIM), today announced it has acquired Catalyst Repository Systems, Inc. (Catalyst), a leading provider of eDiscovery solutions for corporate legal departments and top law firms.
“The joint strength of OpenText and Catalyst confirms our position as a leading provider of eDiscovery technology and combines a powerful set of solutions to help corporate legal departments and law firms seize the opportunities of automation, digital transformation, AI and machine learning,” said Mark J. Barrenechea, OpenText CEO & CTO. “The legal industry is at an important crossroads and OpenText is a strategic choice for legal industry leaders, ensuring they can continue to offer compelling service, help their organizations navigate uncertain regulatory environments, and secure successful outcomes for their clients.”
Catalyst will be integrated into OpenText’s Discovery Solutions, helping customers further leverage their technology investments and benefit from OpenText’s continued investments in innovation.
Barrenechea further added, “We welcome Catalyst’s leading corporate and legal customers, partners and employees to the OpenText community. We are building the world’s top legal technology platform and the Catalyst team and product further strengthen our portfolio and expertise.”
The purchase price of the acquisition is approximately $75 million in an all-cash transaction. Further information for investors, including an overview presentation regarding Catalyst, can be found at:
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, on premises or in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
For further information: Greg Secord, Vice President, Investor Relations, Open Text Corporation, (415) 963-0825, firstname.lastname@example.org or Ryan Hill, Senior Manager, Public Relations, Open Text Corporation, 416-524-6794, email@example.com, https://www.opentext.com