OpenText enters into agreement to acquire Metastorm

Issued by Global Research Partners for Open Text
Johannesburg, 04 Feb 2011

OpenText Corporation, the pre-eminent provider of enterprise content management (ECM) software, today announced it has entered into an agreement and plan of merger to acquire Metastorm 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," commented 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," added 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 organisation."

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

For further information, please contact Rob Shaw: tel +27 83 626-3811, fax +27 86 646-4178, e-mail rshaw@opentext.com.

OpenText

OpenText, the pre-eminent enterprise content management software, helps organisations manage and gain the true value of their business content. OpenText brings two decades of expertise supporting 50 million users in 114 countries. Working with our customers and partners, we bring together leading Content Experts to help organisations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness.

In southern Africa, OpenText's business partners are Accenture, Business Connexion, Datacentrix, IA Systems and SAP Africa; and, its customer base includes organisations from across both the private and public sectors such as Alexander Forbes, Anglo Platinum, BMW, Department of Environmental Affairs and Tourism, Distell, Engen, Exxaro Resources, Mittal Steel, Office of the President, Provincial Government of the Western Cape, SABMiller, Sasol, Telkom SA and Toyota.

Safe harbour statement under the Private Securities Litigation Reform Act of 1995

This news release may contain forward-looking statements relating to the success of any of the company's strategic initiatives, the company's growth and profitability prospects, the benefits of the company's products to be realised by customers, the company's position in the market and future opportunities therein, the deployment of OpenText ECM Suite and our other products by customers, and future performance of OpenText Corporation. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. The risks and uncertainties that may affect forward-looking statements include, among others, the failure to develop new products, risks involved in fluctuations in currency exchange rates, delays in purchasing decisions of customers, the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the company's customers, demand for the company's products and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission (SEC), including the Form 10-K for the year ended June 30, 2009. You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.

Copyright (c) 2010 by OpenText Corporation. OPENTEXT, OPENTEXT EVERYWHERE and the OPENTEXT ECM SUITE are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of OpenText Corporation or other respective owners.

For more information on OpenText, go to: http://www.opentext.com

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