OpenText Buys KineMatik

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Aug 23, 2023, 09:00 ET

KineMatik provides automated Business Process and Project Management Solutions integrated with OpenText's Content Cloud business

WATERLOO, ON, Aug. 23, 2023 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today announced the addition of automated Business Process and Project Management Solutions to the OpenText Content business through the acquisition of KineMatik.

Based in Cork, Ireland, KineMatik provides workflow automation, Document Change Control, Project Management and Electronic Lab Notebook (ELN) solutions built on OpenText's Content Server.

KineMatik works with leading organizations -- in life science, technology, finance, energy and other industries -- to create success in their digital and content services transformation by developing innovative and tailored automation solutions.

"Let me welcome KineMatik customers and employees to OpenText, and we look forward to bringing the KineMatik solution to our entire install base of content management customers," said OpenText CEO & CTO Mark J. Barrenechea. "KineMatik helps enterprise customers in regulated industries meet the highest standards in business process and project management, a key component in Information Management."

The KineMatik purchase is not material to OpenText financial results.

About OpenText

OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX), visit opentext.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website (https://investors.opentext.com). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.

OTEX-MNA

SOURCE Open Text Corporation