Waterloo, ON—June 3, 1998—Open Text Corp. NASDAQ:OTEX) today announced the acquisition of Information Dimensions, Inc., of Dublin, Ohio from Gores Technology Group. Information Dimensions has annual sales of $20 million and 170 employees. This acquisition places Open Text in the market leadership position in worldwide enterprise document management with 42.7% market share according to a recent IDC report. 1
"The purchase of Information Dimensions continues our strategy of rapid growth through well-thought-out acquisitions," said Tom Jenkins, chief executive officer of Open Text. "With Information Dimensions, we saw a unique opportunity to merge enterprise-level knowledge library technology into our flagship knowledge management application, Livelink Intranet."
This acquisition extends Open Text's worldwide installed base to 2.5 million users in 3,500 corporations. Information Dimensions, with its BASIS family of products, has maintained the market leadership position in enterprise document management for more than ten years in Global 2000 companies. Customers include 3M, Alcatel, Boeing Corp., Canadian Broadcasting Corporation, Chrysler Corp., Dupont, Glaxo, L'Oreal, Merck, NASA, News International, Petro Canada, Saab Military, Shell, The World Bank and United Technologies to name a few.
Bill Forquer, president of Information Dimensions, said, "Open Text is a company known for leading the industry in innovation. The combination of Information Dimensions' strengths in enterprise knowledge library technology with Livelink's leadership in knowledge management offer customers the most comprehensive and robust enterprise knowledge management solution on the market. The integration of these two products provides a natural evolution for BASIS applications."
"This is a significant milestone for the document management industry," said Ian Campbell, Director, Collaborative and Intranet Computing, International Data Corporation. "Our most recent study on enterprise document management shows that this acquisition brings together the market share leader in user installed base with the growth leader in new users. This is a powerful combination."
Jenkins added, "With more than 50 percent of the BASIS user base in Europe and localized products in all major languages, this acquisition also enhances Open Text's European operations."
The combined company has 570 employees, products in 12 languages and 82 VARS in 31 countries on six continents.
About Information Dimensions and BASIS:
BASIS is the original document management product that defined the industry segment. Information Dimensions (www.InformationDimensions.com) has been providing leading document and library management tools that set the international standard for innovation, service and support. BASIS has an installed base that includes leading Global 2000 companies and government organizations. More than 500 Information Dimensions customers have deployed BASIS on intranets. Information Dimensions' customer base spans virtually every industry that requires rigorous management of documents for business-critical purposes.
This news release may contain forward-looking statements relating to the future performance of Open Text Corporation. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the company's filings with the Securities and Exchange Commission (SEC), including the final prospectus for the company's initial public offering of common stock in January 1996, Form 10-K for the year ended June 30, 1997, and Form 10-Q for the quarters ended September 30, 1997, and December 31, 1997. Note to Editors: Livelink Pinstripe, Livelink 8, Livelink Search, Livelink Library, Livelink Workflow and Livelink Project Collaboration are trademarks of Open Text Corporation. All other trademarks are the property of their respective companies.