OpenText, a global leader in enterprise information management (EIM), made a huge announcement this week. The company has acquired the file-sharing startup Hightail. Financial terms of the deal were not disclosed to the public.
According to the newly published press release, OpenText has acquired the California –based Hightail for an undisclosed amount. The deal is expected to enhance OpenText’s content services.
Additionally, an OpenText spokesperson also claimed that the deal could expand OpenText’s market reach in the content collaboration space through Hightail’s existing userbase. Hightail, formerly known as YouSendIt, is a platform for sending large files attachments.
|Image Credit: pixelcreatures/pixabay.com|
As part of the deal, Hightail will remain a standalone company but many of its services will integrate into other OpenText products, which include Media Management, OpenText Content Suite, and Documentum.
About the acquirer, OpenText
Founded in 1991 and based in Waterloo, Canada, OpenText is a leading provider of enterprise information management software and has a portfolio that extends into content management for data discovery and customer experience. It also Canada’s largest software company, employing over 10,000 people worldwide. OpenText currently listed on the NASDAQ and Toronto Stock Exchange.
OpenText is no longer stranger when it comes to acquisitions. The company has already made some acquisitions in the past years. In 2016, it acquired Dell EMC’s enterprise content management business, which includes Documentum, Recommind and Captiva Software.
Last year, it acquired Guidance Software, a leading provider E-discovery software and forensic security software for digital investigation. OpenText also acquired Covisint, a US-based information technology company.
About newly acquired company, Hightail
Founded in 2004 and based in Campbell, California, Hightail is a leading cloud service company that specializes in file sharing and creative collaboration. The company’s main product allows users to send, receive, digitally sign and synchronize files.
Before its deal with OpenText, Hightail has managed to raise around $92 million in funding. The company claims around 5.5 million customers worldwide.