Wednesday 6th November, 2013

Open Text has announced that it plans to buy GXS Group for stock and cash worth about $1.17 billion. The purchase is a sizable one for Open Text, which has made a few smaller acquisitions this year.  And with almost 3,000 3,000 employees, GXS will boost Open Text's existing workforce by around 60%.

Earlier this year Open Text purchased cloud-based platform Cordys, for around $33 million. In August the company bought out their UK based partner ICCM solutions for an undisclosed amount.

Shares in the company rose 10% when news of the new deal hit the markets yesterday.

“We expect to deliver even greater value to our customers and partners through new services and market-leading B2B integration from GXS, said Open Text CEO Mark Barrenechea," adding that "The next generation of enterprise software is enterprise information management.”