Cambridge, MA—November 22, 2000—Open Text™ Corporation (Nasdaq: OTEX, TSE: OTC), a worldwide leader of collaborative commerce software for e-business, today announced the acquisition of the product businesses of LeadingSide Inc. (Nasdaq: LDSD). LeadingSide is a leading provider of e-business solutions and specializes in knowledge-driven solutions for a variety of applications such as Publishing, Corporate Portals, Corporate Intranets, and Knowledge Management systems.
Open Text has paid $3 million cash and assumed liabilities for the business, assets transferred and other considerations. The acquisition is expected to be acretive to earnings immediately. Product lines being transferred include the company's former Dataware products marketed as BRS/Search, InQuery, and Queryserver. All intellectual property including patents, source code, and customer lists and contracts associated with the product lines, and approximately 40 product-related staff have been transferred with this acquisition.
"The purchase of the BRS and InQuery products will greatly strengthen our knowledge management products within our Livelink product family. This purchase continues our strategy of growth through well-thought-out acquisitions and our commitment to world leading products in collaborative commerce," said Tom Jenkins, Chief Executive Officer of Open Text. “We have also agreed to enter into a worldwide affinity partnership where LeadingSide will deliver Open Text Livelink solutions.”
David Mahoney, CEO of LeadingSide Inc. said, "Open Text is known as a leading provider of collaborative applications involving knowledge management. We believe that the sale of our search and retrieval product business to Open Text is a great step for all our product customers. And with this transaction, LeadingSide completes its transition to the services space.”
LeadingSide is an e-business solution provider that designs, develops and deploys knowledge-driven solutions to Global 2000 companies in the financial services, pharmaceuticals, telecommunications, media, high tech and professional services industries. The company's core strength lies in its ability to create strategic e-business solutions that leverage the considerable intellectual capital embedded in the terabytes of structured and unstructured business content that companies create and access every day. The company is headquartered in Cambridge, Massachusetts, with offices throughout North America, Europe, and Asia. For more information, visit www.leadingside.com, or call 617.577.2400 (in the U.S.) or 44-(0)-1895-827200 (outside the U.S.).
Livelink is a highly scaleable e-business application. Its richly-featured enterprise services include virtual team collaboration, business process automation, enterprise group scheduling and information retrieval services, all tightly integrated into a solution that is easily customized and extended. Livelink is essential to the effective management and development of communities of interest that span organizations and industries. For everything from the creation of complex e-community relationships to the automation of simple e-business processes, Livelink delivers true dynamic collaboration between individuals, organizations, and large trading communities. Livelink servers are fully Web-based and open-architected to ensure rapid deployment and easy access to its full functionality through a standard Web browser.
About Open Text:
Open Text has pioneered the development of innovative intranet and extranet e-business applications. Since creating one of the first search engines to index the World Wide Web, the Company has remained at the forefront of Internet-based technologies. Its product family called Livelink enables individuals, teams, organizations, and global trading communities to collaborate on e-business applications that facilitate e-commerce and other transactions among Global 2000 organizations. Open Text has become one of the largest providers of Web based collaboration for e-business applications for e-communities of all types from intranets to extranets and public groups. The Livelink product family has installations in 31 countries, speaking 12 languages throughout the world. For more information, visit http://www.opentext.com.