May 1, 2012 / 9:35 PM / in 6 years

UPDATE 2-OpenText to buy EasyLink Services for $232 mln

* Q3 adjusted EPS $1.01 vs Wall St view of $1.16

* Q3 profit hurt by weak results from license revenue segment

* Open Text to pay $7.25/shr for EasyLink (Adds details on results, background, share price move)

TORONTO, May 1 (Reuters) - Business software company Open Text Corp said on Tuesday it agreed to acquire EasyLink Services, a provider of cloud-based messaging services, for $232 million, in an attempt to tap business in the growing Cloud and mobile environments.

Open Text said it will pay $7.25 a share in cash for each share of EasyLink, a 14 percent premium to EasyLink’s Monday closing price of $6.36 on the Nasdaq.

“Easylink is a recognized leader in cloud-based secure information exchange,” OpenText CEO Mark Barrenechea said in a statement, adding that the Canadian software maker sees strong opportunities to connect the dots with mutual customers and partners.

Waterloo-based OpenText, Canada’s largest software maker, also reported f iscal third-quarter earnings that fell below Wall Street’s expectations on the back of weak results from its license revenue segment. The results sent Open Text shares down 3.7 percent to $51.45 in U.S. after-market trading.

“License revenue performance was impacted by sales execution issues in North America,” said Barrenechea, who recently took the reins at OpenText. “We’ve moved swiftly to take corrective actions and are confident that our organizational changes and enhancements will have a positive impact on our execution moving forward.”

Net income in the quarter to March 31 fell to $34.8 million or 59 cents a share, down from $35.8 million, or 61 cents a share, a year earlier.

Excluding one-time items, earnings were $59.2 million, or $1.01 a share. A nalysts had, on average, expected Open Text to earn $1.16 a share, according to Thomson Reuters I/B/E/S.

The company’s licensing revenue - an indicator of future demand - was $60.7 million, down 10 percent from a year earlier.

But total revenue rose 11 percent to $292.3 million, driven by gains in the company’s customer support and service segments.

Open Text software helps manage compliance information and other data for large companies, government agencies and professional service firms.

Its biggest rival is International Business Machines Corp , while its partners include tech infrastructure vendors SAP AG, Microsoft Corp and Oracle Corp .

The company is integrating several acquisitions made last year and realigning its sales team. It bought business process management company Global 360 in July, following last February’s purchase of Metastorm to aid its push into mobile applications.

Reporting By Euan Rocha in Toronto and Supantha Mukherjee in Bangalore; editing by M.D. Golan and Janet Guttsman

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