OpenText to draw on revolver for $1.42 billion Carbonite purchase

Chicago, Nov. 12 – Canada’s OpenText Corp. plans to fund its $1.42 billion purchase of Carbonite, Inc. with existing cash on hand and its revolving credit facility, according to a company notice.

The transaction is expected to close within 90 days.

OpenText is a Waterloo, Ont.-based software provider of business-to-business cloud integration services.

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