Metastorm storms into OpenText's open arms

Stephen Withers
Friday, 04 February 2011 15:13

OpenText has agreed to acquire Metastorm by merging it with an OpenText subsidiary.

Enterprise content management software company OpenText is to acquire Metastorm, a provider of business process management, business process analysis, and enterprise architecture software.

The all-cash deal is work $US182 million, and already has the support of the owners of a majority of Metastorm stock.

"Metastorm will add complementary technology and expertise that enhances our ECM solutions portfolio," said John Shackleton, President and Chief Executive Officer of OpenText. "We look forward to welcoming its employees and customers to OpenText."

"We are excited by the opportunity to join the OpenText team," said Robert Farrell, Chairman and Chief Executive Officer of Metastorm. "Combined with OpenText, Metastorm will be able to provide a broader and deeper range of offerings to our customers, while leveraging the strength and stability that comes with being part of a larger global organisation."

The transaction is expected to close by March 31, 2011, subject to stockholder and regulatory approvals.