Open Text Corporation, a provider of enterprise content management (ECM) software, has announced that its wholly-owned subsidiary, 2016091 Ontario Inc., has entered into a domination and profit transfer agreement with IXOS Software AG. Open Text has also announced that it has extended its partnership with Hitachi Data Systems Corporation.
Pursuant to the agreement, 2016091 Ontario will offer to purchase all outstanding common shares of IXOS that it does not hold, being 2.2 million common shares or approximately 10.2% of the outstanding shares, for a cash purchase price of Euro 9.38 per share. IXOS has also approved the delisting of the shares of IXOS from the Frankfurt Stock Exchange. In connection with this delisting, 2016091 Ontario will offer to purchase all outstanding common shares of IXOS that it does not hold for a cash purchase price of Euro 9.38 per share. The domination and profit transfer agreement and the delisting remains subject to approval of the shareholders of IXOS and will not be effective until registered under German laws. The Management and Supervisory Boards of IXOS will call a meeting of shareholders of IXOS to be held on January 14, 2005.
Open Text has also announced that it has extended a partnership with Hitachi Data Systems Corporation, a wholly owned subsidiary of Hitachi Ltd, to provide combined ECM and storage solutions to large organizations. The partnership is intended to provide solutions that integrate Hitachi Data Systems' storage infrastructure technology with Open Text's ECM software to meet customers' information management requirements.
A key area of focus for the two companies continues to be helping customers manage and store the volume of email they must maintain, while meeting corporate governance and regulatory compliance mandates. Hitachi Data Systems' storage solutions will support the new email management offerings from Open Text, including new solutions that integrate email archiving capabilities with records management software, so customers can apply legal and regulatory policies to email. The two companies are also working together to provide a comprehensive set of archival and compliance solutions for enterprise applications, combining the data lifecycle management capabilities of Hitachi Data Systems' storage platforms with Open Text's ECM software. These solutions let customers store, manage, retrieve, and archive documents from SAP systems.