The rumour doing the rounds is that British search and content management maven Autonomy could be about to announce the acquisition of content management rival Open Text. The move would follow Autonomy’s acquisition of another ECM player, Interwoven, for $775m back in February 2009.
An Autonomy spokesperson came back to us with a line that said that there is nothing to announce at this time, while another of our sources has suggested that if a major deal like this is on the cards — and that is still an ‘if’ — then it is more likely to happen nearer to Autumn.
Autonomy raised around $1bn in a rights issue in February this year, which most expected it to spend on another US acquisition (Open Text is headquartered in Canada, however). That rights issue wouldn’t cover Open Text’s $2.3bn market cap, but then of course Autonomy could bolster its cash with a share swap.