Open Text acquires Vignette in cash-and-stock deal worth $321 million

By Lisa Kerner

Charlotte, N.C., July 21 - Open Text Corp. announced it completed its acquisition of Vignette Corp. after Vignette shareholders approved the merger on Tuesday.

On May 6, Open Text said it agreed to acquire Vignette in a cash-and-stock transaction.

Vignette shareholders received $8 in cash plus 0.1447 of an Open Text common share for every Vignette common share held, according to an Open Text news release.

Open Text will issue approximately 3.45 million shares of its common stock in connection with the merger.

The total value of the consideration paid was approximately $321 million, Open Text said, based on Open Text's closing stock price of $36.84 (Nasdaq: OTEX) on Monday.

Austin, Texas-based Vignette sells software for managing and delivering content.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.