|Bid||56.25 x 0|
|Ask||56.26 x 0|
|Day's Range||55.92 - 56.47|
|52 Week Range||42.13 - 59.13|
|Beta (3Y Monthly)||0.57|
|PE Ratio (TTM)||46.90|
|Earnings Date||Aug. 1, 2019|
|Forward Dividend & Yield||0.93 (1.63%)|
|1y Target Est||43.91|
The Canadian tech firm, Open Text (TSX:OTEX)(NASDAQ:OTEX), got a great deal on the purchase of this U.S. cybersecurity firm, making it the perfect stock to buy.
WATERLOO, Ontario , Nov. 25, 2019 /CNW/ -- OpenText™ (OTEX) (OTEX.TO), a market leader in Enterprise Information Management (EIM) software and solutions, announced today that it has commenced its previously announced tender offer for all outstanding shares of common stock of Carbonite, Inc. (CARB) at a price of U.S. $23.00 per share, through its subsidiary, Coral Merger Sub Inc. The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of November 10, 2019 (the "Merger Agreement"), by and among OpenText, Coral Merger Sub Inc. and Carbonite, which OpenText and Carbonite announced on November 11, 2019 . The Carbonite board of directors has unanimously determined that the tender offer is fair to, advisable and in the best interests of Carbonite and its stockholders and unanimously recommends that the Carbonite stockholders tender their shares pursuant to the tender offer.
Independent Research Firm Recognizes OpenText Media Management for Strength of Core Library Services and Video Capabilities WATERLOO, Ontario , Nov. 20, 2019 /CNW/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), ...
Enbridge Inc. (TSX:ENB)(NYSE:ENB) is cheap right now, and smart investors should load up on shares right now.
Artificial intelligence (AI) is making its way in many industries. You can profit by investing in companies that are leveraging AI, such as Kinaxis (TSX:KXS).
WATERLOO, Ontario , Nov. 12, 2019 /CNW/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), a global leader in Enterprise Information Management (EIM) , today announced its latest technology update, with innovations ...
WATERLOO, Ontario, Nov. 12, 2019 /CNW/ -- OpenText™ (NASDAQ:OTEX - News), (TSX:OTEX.TO - News), a global leader in Enterprise Information Management (EIM), today opened OpenText Enfuse 2019, bringing together cross-functional experts to address the challenges of securing the modern enterprise. At Enfuse, attendees will learn proactive strategies to find, respond to, and eliminate threats – before they become headlines. "Conventional approaches are no longer sufficient to secure the modern enterprise in Industry 4.0," said Mark J. Barrenechea, OpenText CEO & CTO.
(Bloomberg) -- Open Text Corp. announced a deal to acquire Carbonite Inc., a provider of data-protection services, for about $800 million in cash, according to a statement.The transaction of $23 per share for the Boston-based Carbonite is a 25% premium to the close of trading Friday. Bloomberg first reported the deal earlier Monday, and that Carbonite was mulling a sale in early September.When restricted share units and other stock interests are taken into account, the equity value of the deal rises to about $884 million, according to a representative for Open Text. Including debt, the enterprise value of the deal is about $1.4 billion.Before Monday, Carbonite’s shares were down about 38% in the past year, after a sharp fall in July when it cut its annual revenue forecast and announced Chief Executive Officer Mohamad Ali had decided to step down. That followed another sell-off in February amid investor concerns about the debt it was taking on to fund its $618 million all-cash takeover of Webroot Inc. in February.Carbonite rose 25% to $22.95 a share in New York trading Monday. Open Text rose 2.4% in Toronto.The company -- named after the fictional substance used to freeze Han Solo in Star Wars -- offers data backup, disaster recovery and other services to people and businesses, deriving most of its revenue from subscription fees, according to its website.Canada’s Open Text Corp was also weighing a takeover bid for rival software firm Micro Focus International Plc, according to people familiar with the matter. Open Text makes software used for searching corporate intranets and managing documents. In 2017, it acquired Dell Technologies Inc.’s enterprise content division for $1.6 billion.J.P. Morgan Chase & Co. acted as financial adviser to Carbonite.(Updates with diluted value share purchase in third paragraph)\--With assistance from Scott Deveau.To contact the reporters on this story: Ed Hammond in New York at firstname.lastname@example.org;Liana Baker in New York at email@example.comTo contact the editors responsible for this story: Ben Scent at firstname.lastname@example.org, Giles Turner, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
WATERLOO, Ont. — OpenText Corp. shares surged Monday after the company announced a US$1.42-billion deal to acquire Carbonite Inc. to strengthen its offerings in the highly competitive cloud-based software sector.The acquisition will be the ninth cloud-focused acquisition for Waterloo, Ont.-based OpenText, said company CEO Mark Barrenechea on a conference call Monday."This places Open Text as a leading cloud consolidator. All assets combined, we will be approaching two exabytes [1 billion gigabytes] under management, 100 million end points, millions of subscribers, and cloud operations at hyper scale. Scale matters in the cloud."OpenText shares were up $2.04, or 3.71 per cent, to $57.01 on the Toronto Stock Exchange in midmorning trading. Boston-based Carbonite brings a focus of cloud-based subscription data protection, backup, disaster recovery, and end-point security for a variety of customers. The acquisition will strengthen Open Text's security offerings for its cloud platforms, said Barrenechea.Cloud computing has become a key focus for many of the world's largest technology companies including Amazon, Google, IBM, Microsoft and Alibaba."We put security front and centre only about two years ago when we acquired Guidance, so it's a low penetration rate for us, it's still early days."He said that with Carbonite focused largely on the U.S. market, Open Text can leverage its network of clients globally in places like the U.K., France, Germany, Japan, Singapore and Australia to expand demand.Under the deal, Open Text will pay US$23 per share in cash for about US$800 million in total, while debt obligations bring the total deal value to about US$1.42 billion.The company says it expects to close the deal within 90 days.OpenText, which has a market capitalization of $15 billion, provides enterprise information management software, helping companies digitize processes and supply chains for more efficient operations among other services. This report by The Canadian Press was first published Nov. 11, 2019.Companies in this story: (TSX:OTEX) The Canadian Press
WATERLOO, Ontario, Nov. 11, 2019 /CNW/ -- OpenText™ (NASDAQ:OTEX - News) (TSX:OTEX.TO - News), "The Information Company," announced today that it has entered into a definitive agreement to acquire Carbonite, Inc. (NASDAQ:CARB - News) ("Carbonite"), provider of cloud-based subscription data protection, backup, disaster recovery and end-point security to small and medium-sized businesses and consumers. "Cloud platforms and secured, smart end-points are essential Information Management technologies as businesses transform into Industry 4.0," said Mark J. Barrenechea, OpenText CEO & CTO. "This acquisition will further strengthen OpenText as a leader in cloud platforms, complete end-point security and protection, and will open a new route to connect with customers, through Carbonite's marquee SMB/prosumer channel and products.
WATERLOO, Ontario, Nov. 7, 2019 /CNW/ -- OpenText™ (NASDAQ:OTEX - News), (TSX:OTEX.TO - News), a global leader in Enterprise Information Management (EIM), announced it has been named a Leader in Gartner's 2019 Magic Quadrant for Content Services Platforms. "The cornerstone of the OpenText strategy is ensuring our customer's information enables and informs their digital business.
OpenText ™ EnCase ™ recognized as the industry gold standard for incident response and digital investigations by the E-Crime Cyber Council WATERLOO, Ontario , Nov. 7, 2019 /CNW/ -- OpenText™ (NASDAQ: ...