OPEN TEXT CORP acquired Zix Corporation for $894.5 million, a transaction completed in December 2021, structured as all cash. The deal was a Merger.
Zix Corporation operates in Email Security & Compliance (SMB), is based in Dallas, Texas, United States. Zix was a leader in SaaS-based email encryption, threat protection and compliance cloud solutions for small and medium-sized businesses, bringing approximately 5,600 managed service partners (MSPs) and a deeper Microsoft relationship.
We intend to integrate Carbonite, Webroot and Zix products to create a powerhouse SMB platform for data protection, threat management, email security and compliance solutions.
Approximately 5,600 MSPs and a deepened technology and go-to-market relationship with Microsoft; immediately accretive to adjusted EBITDA. Significant cross-sell opportunities in the OpenText and Zix clouds; immediately accretive to adjusted EBITDA. Open Text SMB platform (Carbonite + Webroot + Zix)
We intend to integrate Carbonite, Webroot and Zix products to create a powerhouse SMB platform for data protection, threat management, email security and compliance solutions. Acquisitions of cloud growth assets like Zix highlights our commitment to our Total Growth strategy.Mark J. Barrenechea, CEO & CTO, OpenText
The acquisition of Carbonite in December 2019 and its successful integration has given us the confidence and readiness to expand even further into the SMB market.Madhu Ranganathan, EVP & CFO, OpenText
Advisory firms were not disclosed for this transaction.