Open Text Corporation, an independent provider of enterprise content management (ECM) software and solutions, announced the acquisition of Momentum Systems, Inc., a privately held company that specializes in providing complex ECM solutions to U.S. government agencies. With the acquisition, Open Text expands its solutions expertise in the U.S. government market.
Open Text purchased Momentum Systems for $4 million, net of cash and liquid assets. The agreement was completed with an effective date of March 1, 2007. It is currently anticipated that the financial terms and future impact of this agreement will not have a material effect on future financial results of Open Text.
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