Open Text, a gloabal ECM company and provider of value add business content services, has acquired StreamServe, a provider of business communication solutions, to extend its reach in the Nordic market.
Under the acquisition, complementary document output and customer communication management software will be added to the Open Text ECM Suite, while enhancing Open Text’s SAP partnership.
The transaction is valued at approximately $71 million, subject to customary purchase price and holdback adjustments, Open Text said.
StreamServe offerings enhance the customer interaction capabilities of the Open Text ECM Suite by enabling the automation of business processes for B2B and B2C markets.
Open Text president and chief executive officer John Shackleton said from both a technology and partnership standpoint, StreamServe is a complementary fit for Open Text.
"StreamServe brings innovative new technology to the ECM Suite, offering products that automate and personalise customer communication processes, while integrating this functionality with key Open Text ECM solutions," Shackleton said.
StreamServe president and chief executive officer Dennis Ladd said as part of Open Text, we can offer our customers even greater value with an expanded solutions portfolio and the support of a much larger ECM company.
StreamServe, which has global operations, with a strong presence in Europe, particularly in Sweden, offers enterprise business communication solutions that help organisations process and deliver highly personalised documents in any paper or electronic format.