Open Text Acquires PE-Backed Software Company Cordys for $33M

Waterloo, Ontario-based Open Text Corp. (NASDAQ: OTEX, TSX: OTC), a provider of enterprise data management software, has acquired Cordys B.V. for US$33 million. The Netherlands-based Cordys, a specialist in business process management software, was formerly a portfolio company of U.S.-based Argonaut Private Equity. In April 2007, Argonaut led a US$80 million equity financing of the company.

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