OpenText Acquires Zix Corporation
November 8, 2021
OpenText completed the acquisition of Zix Corporation, a SaaS-based email encryption, threat protection and compliance cloud provider for SMBs, for $8.50 per share in a transaction valued at approximately $860 million. The deal expands OpenText's SMB cloud portfolio, brings roughly 5,600 managed service partners, deepens its Microsoft relationship, and is expected to be accretive to adjusted EBITDA and ARR.
- Buyers
- OpenText
- Targets
- Zix Corporation
- Sellers
- Certain Zix shareholders (holders of approximately 31% of outstanding shares agreed to tender)
- Industry
- Cybersecurity
- Location
- Texas, United States
- Transaction Type
- Buyout
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