In a move that could shake up the enterprise content management world, Open Text announced the purchase of digital content management solution firm Nstein Technologies Inc. in a deal worth an estimated 35 million Canadian dollars ($36.3 million).
John Shackleton, president and CEO of Open Text, said the purchase of Nstein will help increase the company”s market share as an ECM corporation. In addition, Shackleton said the move is good for two Canadian companies.
"This is a good fit for two strong Canadian companies. With Nstein, we have an opportunity to continue to grow as Canada”s largest software company, expanding Open Text”s presence in Quebec," said Shackleton. "Nstein will also add complementary technology and expertise that enhances our ECM solutions portfolio."
It has been a busy few days for Open Text as the company announced last week it would be continuing its partnership with SAP, allowing the German-based tech firm to continue to resell Open Text”s enterprise DAM solution. It has also been speculated that Open Text will be partnering with fellow Canadian tech firm Research in Motion to create mobile devices.