OpenText Enters Into Agreement to Acquire Metastorm

03 February 2011

OpenText(TM) Corporation, today announced it has entered into an agreement and plan of merger to acquire Metastorm Inc. through a merger of Metastorm with a subsidiary of OpenText.

Headquartered in Baltimore, Maryland, Metastorm is a provider of Business Process Management (BPM), Business Process Analysis (BPA), and Enterprise Architecture (EA) software for aligning strategy with execution.

Based on the terms of the agreement, Metastorm stockholders will receive $182 million in cash, subject to a customary indemnification holdback. Stockholders representing a majority of the ownership of Metastorm have signed conditional support agreements in support of the transaction.

"Metastorm will add complementary technology and expertise that enhances our ECM solutions portfolio," said John Shackleton, President and Chief Executive Officer of OpenText. "We look forward to welcoming its employees and customers to OpenText."

"We are excited by the opportunity to join the OpenText team," said Robert Farrell, Chairman and Chief Executive Officer of Metastorm. "Combined with OpenText, Metastorm will be able to provide a broader and deeper range of offerings to our customers, while leveraging the strength and stability that comes with being part of a larger global organization."

The transaction is expected to close in OpenText s third quarter ending March 31st, 2011, and is subject to customary approvals and Metastorm stockholder consent.