BRIEF-Opentext signs agreement to acquire Recommind Inc

Thu Jun 2, 2016 9:52am EDT
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June 2 (Reuters) - Open Text Corp

* Opentext signs definitive agreement to acquire Recommind, Inc

* Transaction purchase price is approximately $163 million

* Deal to be immediately accretive to earnings

* Solutions being acquired are expected to generate between $70m and $80m of annualized revenues

* Solutions being acquired can be on Opentext operating model within first 12 months after closing Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)