Open Text Corporation

OpenText Corporation

Type	Public (NASDAQ: OTEX; TSX: OTC)
Industry	Computer software
Founded	1991
Founder(s)	Tim Bray, Gaston Gonnet, Frank Tompa
Headquarters	Waterloo, Ontario, Canada
Key people	John Shackleton, CEO Tom Jenkins, Chairman
Products	Content management solutions
Revenue	US$912 million (FY 2010)[1]
Net income	US$87.6 million (FY 2010)[1]
Employees	4,450 (2011)
Website	www.opentext.com

OpenText Corporation (TSX: OTC NASDAQ: OTEX) is a software company headquartered in Waterloo, Ontario, Canada. As Canada's largest software company, it produces and distributes computer software applications designed to enable Enterprise content management (ECM) solutions for large corporations across all industries.^[2]

OpenText software applications manage content (or unstructured data) for most types of governance, efficiency and monetization requirements in large companies, government agencies and professional service firms. OpenText solutions address information management requirements including:

• Securing and managing rapidly growing volumes of content
• Ensuring compliance with continually changing regulatory requirements
• Enabling a mobile workforce
• Creating an online experience for customers, partners, and employees

Its primary offerings include the OpenText ECM Suite, BPM products, mobile enterprise applications, content solutions for law firms and mid-sized businesses, secure social networks, web content management and cloud services.

OpenText employs approximately 4,450 people worldwide. It is a publicly traded company, listed on Nasdaq and TSE.

History

OpenText’s history has centered on the development of ECM software that combines content lifecycle management, business processes and user engagement. OpenText software includes the underlying platform to manage most content types, ranging from user generated content in social networks to data in enterprise resource management systems. These ECM technologies can be used to address end user engagement, business agility, and cost and risk reduction.

OpenText originated in 1991 as a small three-person consulting operation. The company was a spin-off of a University of Waterloo project that developed technology used to index the Oxford English Dictionary. In partnership with colleagues from Oxford University, participants in the project included two professors of Computer Science, Dr. Frank Tompa and Dr. Gaston Gonnet, along with their Faculty of Arts colleague, John Stubbs. Later founders of the business application of the technology developed during the course of this project include Tom Jenkins, who joined the company as COO in 1994 and Tim Bray. Tom Jenkins later became President and Chief Executive Officer. Today, John Shackleton serves as CEO of OpenText, and Tom Jenkins as Executive Chairman and Chief Strategy Officer.

1991-94

• OpenText Corporation was incorporated in 1991, a spin-off based on a project at the University of Waterloo to create an electronic Oxford English Dictionary— an undertaking that required developing search technologies that could be used to quickly index and retrieve information. The technology developed for this project was recognized as being useful for other business applications. As a result, the company was incorporated and started shipping product in September of the same year. Early customers include Oxford University Press, the Canadian Pharmaceutical Association, and University Libraries.
• In 1993, the first Windows-based applications delivered to UBS in Switzerland.
• 1994, Tom Jenkins joins company as COO, later to become President and CEO.

1994 - 95

• From its origins as creator of one of first Internet search engines and early Web-based document management, workflow and portal software, OpenText realized the potential of the Internet as a platform for collaboration, along with the value of digital content as a strategic knowledge asset that must be managed throughout its lifecycle.^[3]
• The company grew as organizations found they needed to index and search their existing and growing stores of electronic information. In 1994 OpenText began hosting its OpenText 4 search engine on the Web, competing directly with the AltaVista Web search engine. In 1995, OpenText provided the search technology used by Yahoo! as part of its Web index.
• In 1995, OpenText purchased Odesta Systems, producer of Livelink, a Web-based electronic document management system. In that same year OpenText shipped its first Web-based product, Latitude Web Server (later renamed Livelink Web Server), which gave Yahoo! the capability of searching every word on every Web page. It also co-developed ArchiveLink with SAP and the first standard ArchiveLink product for SAP.

1996 -99

• In 1996 OpenText launched its initial public offering of 4.6 million shares raising $61 million. ^[4]
• OpenText acquired Information Dimensions in 1998, an electronic document management company, adding offices in London, Paris, Frankfurt and Ohio.
• IDC report declared OpenText the market leader (64 percent share) for Web-enabled electronic Document Management. ^[5]
• Although OpenText was originally known as a vendor of content management and collaboration software, the company started to invest in records management and archiving software to provide capabilities that would protect the knowledge created through collaboration.
• In 1999, OpenText acquired PS Software, records management software that gave organizations the option to safeguard content created through collaboration. Content and metadata collected through collaboration and social networking using both handheld and desktop devices can be managed in the archive, reused and analyzed to drive the reuse of information.
• In 1999, OpenText acquired Microstar Software – for additional XML expertise to enhance collections of records management.

2000 - 03

• May 2002, OpenText is positioned as a leader in the Gartner Team Collaboration Support Magic Quadrant. ^[6]
• In September 2002 FirstClass groupware for CA$19 million, bringing collaboration software and expertise to advance its software’s collaboration capabilities.
• In 2002, OpenText released Livelink Wireless, the first mobile application from OpenText built on the BlackBerry

• OpenText acquired Gauss, a developer of Web Content Management based in Germany (WCM) and high-throughput business process management solutions. WCM complemented OpenText’s ECM solutions by adding the ability for organizations to publish content in context through Web properties for Web and mobile access, while maintaining a link back—and the ability to manage—content in the core ECM repository for valuable meta-data and audit information.

2004 - 07

• In 2004, OpenText acquired Munich-based IXOS AG, software vendor with 15 years experience integrating with SAP solutions. IXOS archiving solutions consolidated with Livelink records management and collaboration solutions (content from SAP, Lotus Notes, Microsoft SharePoint and Outlook). The long term preservation of knowledge created through collaboration activities is used to ensure business continuity within organizations.
• Later that same year, to enable organizations to manage rich digital content types, OpenText acquired Artesia Technologies, a supplier of digital asset management software for the media and entertainment industry.
• October, 2004, Analyst firm Gartner, Inc. positioned OpenText in the Leaders quadrant of its first Magic Quadrant for Enterprise Content Management, 2004 published on October 19, 2004. ^[7]
• With the acquisition of Hummingbird Ltd. in 2006, OpenText added several more businesses to its portfolio, including Hummingbird Connectivity and RedDot Solutions Inc, further enhancing its enterprise content management solution.
• In 2007, OpenText acquired Momentum Systems, which provided government implementation expertise to fulfill OpenText’s commitment to government.

2008-10

• In 2008, OpenText expanded its ECM portfolio to include Captaris, Inc. and Captaris Document Technologies (CDT), makers of the RightFax digital fax series of products—adding fax, document distribution and document capture software.
• Acquired Spicer Corporation, specialists in file format viewer solutions for desktop applications, integrated business process management (BPM) systems, and reprographics.
• On April 8, 2009, OpenText announced that that acquisition of Vizible Corporation, makers of a digital media interface solution.^[8] This allowed for the 3-Dimensional navigation of digital media for enriched user experience, intended for development of virtual interactive and collaborative immersive environments and next-generation ECM platforms.
• On May 6, 2009 OpenText announced an agreement to acquire Vignette Corporation, another ECM software company, for $310 million.^[9] On July 21, 2009 OpenText Corporation completed its acquisition of Vignette Corporation.^[10] This acquisition introduced secure social media into the ECM platform, along with consumer-based features into enterprise software.
• On February 22, 2010 OpenText announced it entered an agreement to buy Nstein Technologies for $35 million CDN.
• On April 1, 2010 OpenText Corporation completed the acquisition, adding content analytics to its ECM Suite. Content analytics, or semantically-based search engines, filter out ambiguous terms from a person’s true intent, as well as the structure, entities, concepts and relationships between content in a document or on a page.
• June 2010, OpenText announced it had been chosen to provide a confidential and highly secure social networking application for the G-8 and G-20 leaders to exchange ideas and information on important world issues. For the first time in the history of G-20 Summits, policy makers from around the world were able to collaborate over secure social networking software in advance of, during and following the G-20 Toronto Summit. ^[11]
• On October 27, 2010, OpenText announced the acquisition of StreamServe, Inc., a provider of business communications software, for approximately USD $71 million, adding document output management (DOM) and customer communication management software. ^[12]

2010-11

• On February 2, 2011, OpenText announced the acquisition of Metastorm Inc. a provider of Business Process Management (BPM), Business Process Analysis (BPA), and Enterprise Architecture (EA) software, further expanding its ECM portfolio capabilities with process management functionality including the ability to bring together business and IT to discover, model, analyze, and optimize business processes.
• On March 8, 2011, OpenText announced the acquisition of London-based weComm, a mobile application pioneer that offers technology for deployment of high-quality, media rich applications across more than 900 mobile devices and platforms. This strategic acquisition advanced OpenText’s Mobile App Strategy.
• On July 13, 2011, OpenText announced that it had acquired Global 360 Holding Corporation, a leading provider of process and case management solutions and document-centric Business process management, for approximately USD $260 million.^[13][14] Companies use BPM software to create and manage various business processes, such as the steps involved in purchasing supplies, fulfilling orders, or hiring new workers.

Offerings

OpenText is an independent software vendor which sells software licenses including support and maintenance. OpenText offers worldwide consulting services, software training and individual support packages.

OpenText ECM Suite

The OpenText ECM Suite integrates multiple technologies for document management, records management, web content management, digital asset management, email management and information lifecycle management. Other components include electronic discovery, document capture, document imaging and digital faxing solutions. The suite provides functions for team collaboration, forums, blogs, wikis, and real-time instant messaging and collaboration. These functions are connected through business process management tools to each other and to other business applications and processes.

Applications for Microsoft, Oracle, SAP

OpenText offers multiple applications that extend the functionality of major business applications through partnerships with Microsoft, Oracle and SAP.^[15] In addition, SAP resells a number of the company’s software applications for document access, archiving and invoice management, digital asset management and employee file management.

Vertical, Horizontal Applications

OpenText offers content management applications for specific industries and business functions. These applications are built using OpenText ECM Suite technologies to address the requirements of a particular industry such as energy or pharmaceutical or particular business requirements such as human relations or accounts payable.^[16]

Document Management

OpenText document management software is designed to help organizations reduce time spent managing documents and projects by making content easier to find, allowing for consistent governance of corporate information and providing a central knowledge base of current and approved documents.

Records Management

OpenText records management products give organizations the software infrastructure necessary to ensure compliance with worldwide regulations, standards, and certifications such as DoD 5015.2, US FDA 21 CFR Part 11, SEC Rule 17a, MoReq2, and Section 508.

Email Management

The email management component of the OpenText ECM Suite addresses an organization’s key email issues, including storage, litigation, eDiscovery or compliance. The email management component of the OpenText ECM Suite is characterized by a centralized foundation of compliant archiving and records management, enabling the secure storage and management of email to ensure regulatory compliance and reduce litigation risks.

Business Process Management

OpenText BPM software products enable organizations to create, deploy, modify, and manage business processes. OpenText BPM software applications integrate people and content from multiple applications and support adaptive case management.

Collaboration and Social Media

OpenText collaboration software products enable employees and business partners to share knowledge, collaborate in the context of business processes, and form ad hoc teams. OpenText social media products help businesses capture user-generated content by taking features from consumer technology and adapting them to the security and compliance needs of large organizations.

Web Content Management

OpenText offers a set of offerings to manage and optimize Web-based content in order to establish intranets, extranets and external websites. This Web content management system is integrated with the OpenText ECM Suite.

Digital Asset Management

OpenText digital asset management (DAM) products provide organizations with a centralized management resource for digital media files and underlying metadata and provides facilities for discovery, access, editing, sharing, reuse, distribution, and archiving of rich media assets.

Mobile Solutions

OpenText offers an array of mobile capabilities for enterprises. The company's MEAP (Mobile Enterprise Application Framework) allows customers to deliver apps on multiple types of devices.

Competitors

Some of OpenText's key competitors in the enterprise content management market include:

• IBM > FileNet
• EMC Corporation > Documentum

See also

• Tim Bray - a co-founder of OpenText Corporation
• Gaston Gonnet - co-founder of OpenText Corporation, Professor of Computer Science at the ETH Zürich
• OpenText Communications Solutions Group (FirstClass)
• OpenText Web Solutions Group (RedDot)
• Canada 3.0 - OpenText is the platinum sponsor of this event

References

1. ^ ^{a b} Open Text Investor Relations (2010-08-20). "2010 Q4 Form 10-K June 2010". OpenText Corporation. http://mimage.opentext.com/alt_content/binary/ot/investor/2010/Q41010-Q.pdf. Retrieved 2010-08-20. 
2. ^ "Top 25 Canadian Software Companies"
3. ^ "OpenText History"
4. ^ "OpenText IPO"
5. ^ “Web-based Electronic Document Management Year-End Market Review, 1996, International Data Corporation"
6. ^ "Gartner Research May 23, 2002 Magic Quadrant: Team Collaboration Support"
7. ^ “Gartner, Magic Quadrant for Enterprise Content Management” October 19, 2004"
8. ^ "Open Text acquires Vizible Corporation"
9. ^ "Vignette to become part of Open Text in $310M deal". 2009-05-06. http://www.bizjournals.com/austin/stories/2009/05/04/daily29.html. Retrieved 2009-05-09. 
10. ^ "Open Text Completes Vignette Acquisition". http://www.opentext.com/2/global/press-release-details.html?id=2233. Retrieved 2009-07-28. 
11. ^ "OpenText Supports G-20"
12. ^ "OpenText Acquires StreamServe"
13. ^ Christine, Dobby. "Open Text buys Texas’ Global 360 for $260M". FINANCIAL POST. http://business.financialpost.com/2011/07/13/open-text-buys-texas-global-360-for-260m/. Retrieved 13 July 2011. 
14. ^ "OpenText Acquires Global 360". Open Text Press Release. Open Text. http://www.opentext.com/2/global/press-release-details.html?id=2553. Retrieved 13 July 2011. 
15. ^ "Open Text and Microsoft Office SharePoint Server: The Road to Greater Productivity". IDC. http://download.microsoft.com/download/e/8/9/e898f1fb-73a5-44f5-8317-d562f842660a/IDCWP06Q_print_letter.pdf. Retrieved 2009-05-19. 
16. ^ "Use CEVAs to Generate Value From Your Content". Gartner. http://www.gartner.com/DisplayDocument?doc_cd=137675. Retrieved 2009-05-18. 

External links

• OpenText.com Official website
• Vendor List: Document Management Systems for Legal Industry (Hyperion Research)
• [1] Open Text RightFax Case Study