Open Text to Acquire Vignette

Open Text to Acquire Vignette

May 7, 2009:Open Text is adding the Vignette suite of Web CMS offerings to its growing product line in a $US310 million cash and share transaction.

John Shackleton, President and Chief Executive Officer of Open Text, said the combination of Vignette with Open Text will extend the breadth of our offerings and further Open Text s positioning as the leading independent ECM vendor in the marketplace.

"Vignette's customers represent some of the world's most powerful online brands and we are excited about the opportunity to expand the relationship with these customers and partners," said Shackleton.

"After a thorough evaluation of strategic and financial alternatives, the Vignette Board of Directors believes that today's announcement provides attractive value for our shareholders, said Mike Aviles, President and Chief Executive Officer of Vignette. Our shareholders, customers, partners and employees will all benefit as Vignette combines with Open Text."

"Joining Open Text builds on our commitment to deliver the most innovative solutions for our customers and partners. Vignette has an enviable customer base, deep expertise in Web Content Management (WCM) and global distribution capabilities. Vignette customers will benefit from Open Text s expanded ECM solutions portfolio as well as their Vignette products being supported by the world s largest independent ECM solutions provider," said Aviles.

Vignette is based in Austin, Texas, and has approximately 700 employees. The transaction is expected to close in the second half of calendar 2009.

Comment on this story.

Business Solution: