Hummingbird Responds to Open Text Announcement

Jul 11, 2006


Hummingbird Ltd., a provider of enterprise software solutions, has received a proposal from Open Text Corporation indicating it is prepared to make an offer to acquire all of Hummingbird's outstanding shares at a price of US $27.25 cash per share. This proposal was subject to a number of conditions, including the execution of an agreement with Hummingbird and completion of due diligence. After consultation with its financial and legal advisors, Hummingbird's Board of Directors concluded that, under the terms of the Arrangement Agreement, the Board was permitted to discuss and negotiate the proposal with Open Text. Open Text has not yet made a formal offer to acquire Hummingbird's shares.