Industry News > Tuesday - March 9, 2010
Open Text to Acquire Vignette
Vignette Corp and Open Test has announced that they have entered into a definitive agreement pursuant to which Vignette will become a wholly owned subsidiary of Open Text.
Vignette shareholders will receive US $8.00 in cash plus 0.1447 of an Open Text common share for every Vignette common share which equates to approximately US $12.70 at close of market on May 5, 2009. This represents a premium of approximately 74% above the 30 trading day average closing price of Vignette’s shares and approximately 41% above the most recent closing price. This values the transaction at approximately US $310 million.
John Shackleton, President and Chief Executive Officer of Open Text, stated, “The combination of Vignette with Open Text will extend the breadth of our offerings and further Open Text’s positioning as the leading independent ECM vendor in the marketplace.”
Read the full story here.
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