OpenText Acquires Share
OpenText Continues to Expand Its Cloud and AI Capabilities with Acquisition of Share
OpenText, a global leader in enterprise information management (EIM), today announced the acquisition of Share, a leading provider of cloud-based content sharing and collaboration solutions. The acquisition will enhance OpenText's cloud and AI capabilities and expand its offerings to meet the growing needs of customers in the digital workplace.
Benefits of the Acquisition
The acquisition will provide several benefits to OpenText's customers, including:
- Enhanced Cloud Capabilities: Share's cloud-based platform will strengthen OpenText's position as a leader in cloud EIM solutions.
- Improved Collaboration: Share's collaboration tools will enable OpenText customers to improve team collaboration and productivity.
- Expanded AI Capabilities: Share's AI-powered features will enhance OpenText's ability to deliver intelligent information management solutions.
In addition to these benefits, the acquisition will also strengthen OpenText's position in key markets such as financial services, healthcare, and manufacturing.
Terms of the Acquisition
The financial terms of the acquisition were not disclosed. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
Quotes from OpenText and Share Executives
"We are excited to welcome Share to the OpenText family," said Mark J. Barrenechea, CEO of OpenText. "Share's cloud-based solutions and AI capabilities will enhance our ability to deliver innovative information management solutions to our customers." "Joining forces with OpenText is a testament to the value of our platform and our team's hard work," said Gaurav Agarwal, CEO of Share. "We believe that together, we can accelerate the digital transformation of enterprises worldwide."
About OpenText
OpenText is a global leader in enterprise information management. The company provides cloud-based and on-premises solutions that help organizations manage, secure, and govern their information. OpenText's solutions are used by more than 100,000 customers in over 100 countries.
About Share
Share is a cloud-based content sharing and collaboration platform. The platform enables users to securely share and collaborate on files, documents, and other content. Share is used by more than 10 million users in over 180 countries.
