OpenText to acquire Vector Capital-backed Actuate for $330 mln

Open Text Corp (TSX: OTC, NASDAQ: OTEX) has agreed to purchase Actuate Corp (NASDAQ: BIRT), a personalized analytics and insights provider based in San Mateo, California. The deal, which has been approved by the boards of directors of both companies, has a total equity value of approximately US$330 million. The acquisition is expected to close in the third quarter of Open Text's fiscal 2015. Among the selling investors is U.S. private equity firm Vector Capital. Based in Waterloo, Ontario, Open Text is an enterprise information management and software company.

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