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Open Text Acquires Momentum Systems for $4 Million

Monday, March 05, 2007 6:30:00 AM PDT | VentureDeal Staff

CHICAGO, IL -- Open Text Corporation (Nasdaq: OTEX) announced the acquisition of Momentum Systems, Inc. for $4 million, net of cash and liquid assets.

Momentum was already an Open Text partner in the U.S. Government sector.  It provides complex Enterprise Content Management solutions to government agencies.  The company's sole office is located in Washington D.C.

Open Text said in a press release that it did not foresee any "material change to staff levels at either Momentum or Open Text" as a result of the transaction.

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