BRIEF-Opentext to acquire Dell EMC's enterprise content division, including Documentum

Mon Sep 12, 2016 8:14am EDT
 
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Sept 12 (Reuters) - Open Text Corp

* Opentext signs definitive agreement to acquire Dell EMC's enterprise content division, including Documentum

* Says under terms of agreement, software, associated services, and employees of ECD will be integrated into Opentext

* Purchase price of $1.62 billion

* Says deal targeting to be immediately accretive to earnings

* Permanent financing may include elements of cash on hand, new borrowings under credit facilities, and newly issued equity

* Acquisition is not subject to a financing condition

* Morgan Stanley & Co. LLC acted as exclusive financial advisor to Dell Technologies in connection with transaction

* Barclays acted as a financial advisor to Opentext and provided a $1.0 billion debt commitment in support of transaction

* Co, Dell EMC also announced intention to negotiate, enter into strategic commercial partnership to expand customer offerings Source text for Eikon: Further company coverage: