Monday 31st July, 2017
OpenText has announced that it has entered into an agreement to acquire US based Guidance Software, a forensic security and e-discovery solutions provider.
Under the terms of the agreement, the purchase price will be less Guidance’s cash of around $18 million, making the total amount $222 million approximately. Guidance will then become a wholly owned subsidiary of OpenText.
"Our board of directors has carefully evaluated the merger proposal by OpenText and believes it represents the best value reasonably attainable for our stockholders and will benefit our customers and employees,” said Patrick Dennis, Guidance president and CEO.
He added “Joining with OpenText is a new beginning for Guidance products, customers and employees.”
The acquisition of Guidance is expected to complement the OpenText Discovery portfolio of software and services that provide search, extraction, classification, review and analysis of information, and to broaden OpenText Information Security capabilities through the addition of digital investigation, forensic security, and endpoint solutions.
The purchase should complete in the third quarter of this year.