Agency / Source: Actuate Corporation | OpenText™

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

OpenText Buys Zix Corporation - OpenText™ today announced that it has completed the closing of the previously announced acquisition of Zix Corporation [NASDAQ: ZIXI] - Zix.com / OpenText.com
OpenText Buys Zix Corporation

 

PRZOOM - /newswire/ - Waterloo, Ontario, Canada, 2021/12/23 - OpenText™ today announced that it has completed the closing of the previously announced acquisition of Zix Corporation [NASDAQ: ZIXI] - Zix.com / OpenText.com. NASDAQ: OTEX, TSX: OTEX

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Data Content Management / Archiving Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

OpenText™ today announced that it has completed the closing of the previously announced acquisition of Zix Corporation (zix.com), a leader in SaaS-based email encryption, threat protection and compliance cloud solutions for Small and Medium-sized Businesses (SMBs).

“I would like to welcome Zix customers, partners, and employees to OpenText. Combined, we will be able to provide our customers a powerhouse SMB platform for data protection, threat management, email security and compliance solutions,” said OpenText CEO & CTO Mark J. Barrenechea. “Zix meaningfully expands our distribution capabilities with MSP partners, enhances our SMB offering and deepens our go-to-market relationship with Microsoft.”

Barrenechea further added,“OpenText is committed to winning Information Management in both the Enterprise and SMB markets. We are targeting for Zix to be on our operating model within 12-18 months and as previously highlighted, once integrated, we expect Zix to be accretive to organic growth and margin dollars.”

Preliminary Financial Overview

OpenText expects no material revenue or operating expenses from Zix over the holiday season between December 23rd and 31st, within the current quarter (Fiscal 2022 Q2). Further financial projections from OpenText, as well as updated target models, will be provided when the company reports its second quarter Fiscal 2022 financial & business results.(1)

Terms of the Acquisition

• The tender offer for all outstanding Zix common stock (including shares of common stock issued upon conversion of Zix’s Series A Preferred Stock) for $8.50 per share in cash is now complete and Zix is now a wholly-owned subsidiary of OpenText;
• Total purchase price of approximately $860 million, inclusive of Zix’s cash and debt;
• The total purchase price is approximately 3.5x TTM (Trailing Twelve Months) Zix GAAP revenues (as of September 30, 2021);
• Zix Reported Annual Recurring Revenues (ARR) of 90%;
• Accretive and expected to be on the OpenText operating model within 12-18 months;
• Funded with OpenText's existing cash on hand.

(1) Upon closing, Zix’s resell business will be reported on a “net” basis to conform to OpenText’s revenue recognition policies. The net basis recognition will result in Zix’s immediate conformance to OpenText Gross Margin Model.

About OpenText

OpenText (opentext.com), The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions.

Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release, including statements regarding OpenText’s plans, objectives, expectations and intentions relating to the acquisition, the acquisition’s expected contribution to OpenText’s results, financing and closing of the acquisition, as well as the expected timing and benefits of the acquisition, impact on future financial performance including in respect of annual recurring revenues, cloud growth, adjusted EBITDA, cash flows and earnings, may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which OpenText operates, as well as the impact of the ongoing COVID-19 pandemic. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors, which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Copyright © 2021 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit opentext.com/patents.

Note: All dollar amounts in this press release are in US dollars unless otherwise indicated.

Contact: Harry E. Blount - Senior Vice President, Investor Relations
P: 415-963-0825 - E: investors[.]opentext.com.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Data Content Management / Archiving Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Actuate Corporation | OpenText™

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Data Content Management / Archiving articles,
CATCH Visitors via Your Competitors Announcements!


OpenText Buys Zix Corporation

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
Zix Corporation | OpenText
Contact: Press Office - OpenText.com 
519-888-7111 publicrelations[.]opentext.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Actuate Corporation | OpenText™ securities in any jurisdiction including any other companies listed or named in this release.

Data Content Management / Archiving via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Press Releases From Actuate Corporation | OpenText™ / Company Profile


Read Data Content Management / Archiving Most Recent Related Press Releases:

SirviS Joins Acronis’ #TeamUp Program to Support Cyber Protection Partnerships with World-class Sports Teams
Acronis Introduces Unique, Turn-Key Data Loss Prevention Solution at RSAC
ADVA Launches GPS-Backup-as-a-Service to Help Service Providers Combat GNSS Cyberattacks
The Detroit Pistons and Centaris Join Acronis’ #TeamUp Program to Support Cyber Protection in Latest Slam-dunk Move
OpenText Showcases Latest Content Cloud Innovations At AIIM 2022
Tokio Marine Vietnam Powers Customer Experience with OpenText
OpenText and MUFG Global Securities Lending Solutions Group Partner to Deliver Newly Enhanced Experience to Business Customers
Close Brothers Asset Finance and Leasing Taps OpenText for Customer-Oriented Digital Transformation
OpenText™ Announced Cloud Editions 22.1 (CE 22.1)
MSIG Asia Enriches Customer Experience with OpenText

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
.



PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  BizJobs.com

Visit  Limelon Advertising, Co.







 
  ©2022 PRZOOM - Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today