The OpenText building in Waterloo, Ont.Kevin Van Paassen/The Globe and Mail
Business software company Open Text Corp. has acquired XMedius, a provider of secure file exchange and communication, for $75-million in cash.
Open Text chief executive Mark Barrenechea says the deal strengthens its secure information exchange, unified communications and digital fax business.
XMedius is based in Montreal and has offices in Seattle and Paris.
It has more than 20 million users and 50,000 installations around the world.
XMedius currently generates approximately $40-million annually in revenue.
Open Text says it expects revenue at XMedius to be down as much as 20 per cent in the first year owing to customary purchase price accounting adjustments and integration activities.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.