Captaris taken private by Open Text

By Lisa Kerner

Charlotte, N.C., Oct. 31 - Open Text Corp. completed the merger of its wholly owned subsidiary with Captaris, Inc. after Captaris shareholders approved the deal on Friday.

Captaris is now a private company, and its shares of common stock are being delisted from trading on the Nasdaq Global Market.

"Captaris strengthens our position as the ECM market's independent leader and broadens the suite of solutions we offer that integrate with SAP, Microsoft and Oracle, our three strategic partners," Open Text president and chief executive officer John Shackleton said in a company news release.

In September, Open Text's subsidiary agreed to acquire Captaris for $4.80 per share, or a total of approximately $131 million.

Captaris' software products enable customers to convert paper documents to digital content. The company is based in Bellevue, Wash.

Open Text, located in Waterloo, Ont., develops, markets, sells, licenses and supports enterprise content management solutions primarily in North America and Europe.

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