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Re: Open Text buys Hummingbird - end of story?
by
Anonymous
For reader's interest, I post below the letter from OpenText to Hummingbird Legal Clients:
www.opentext.com
An open letter from Open Text to Hummingbird
customers in Legal
August 11, 2006
Dear Valued Hummingbird Customer,
On August 4, 2006, Open Text and Hummingbird announced that they have reached an agreement whereby Open Text will acquire Hummingbird in a transaction valued at approximately US$489 million, or US $27.85 per share. Subject to the receipt of shareholder and other approvals, we expect the deal will close in early
October.
Over the years, Hummingbird has always focused on you the customer by delivering first class solutions, service and support. It is this dedication to its customers and its complementary product and solution portfolio that makes Hummingbird a perfect addition to the Open Text family as we share the same values.
Once the transaction is complete, the combined entity will be the largest independent global ECM vendor, and will be able to serve your ECM needs with a much broader portfolio of products and solutions.
Hummingbird’s position in the legal market was one of the key strategic factors behind this transaction. We recognize the tremendous value Hummingbird Enterprise™ for Legal, including the LegalKEY product suite, brings to the legal marketplace. As such, we expect these offerings to become valuable components of the Open Text portfolio and we intend to continue to support, innovate and further develop these offerings to better serve the needs of the legal community. In addition, the combined entity will have a strong development team with the capability of delivering innovative products and solutions to address your specific business needs.
With your continued support and commitment, we are confident that the combined company will continue to be a leading solutions provider to the legal market, providing you with the best products, solutions, service and support to address your most pressing business issues.
Regards,
John Shackleton
President, CEO
Open Text Corporation
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