OPEN TEXT CORP acquired Hummingbird Ltd. for approximately US$489 million, a transaction completed in October 2006, structured as all cash.
Hummingbird Ltd. operates in Enterprise Content Management, is based in Toronto, Ontario, Canada. Hummingbird was a Toronto-based provider of enterprise content management software with a historic presence in the legal and government verticals. OpenText acquired all outstanding common shares at US$27.85 per share by way of a statutory plan of arrangement.
With its historic presence in the legal and government verticals, Hummingbird is a strategic fit with our focus on ECM solutions aimed at vertical markets and regulatory compliance.
Strengthened ECM leadership in legal and government verticals. Open Text ECM
We are pleased to be taking this next step with Hummingbird and believe the acquisition will benefit the shareholders, customers, partners and employees of both companies.John Shackleton, President and CEO, Open Text
Advisory firms were not disclosed for this transaction.