Saturday, October 23, 2021

OpenText closes the deal on acquiring Guidance Software

OpenText Corporation has announced today that it has closed the previously announced acquisition of Guidance Software, a Pasadena, Calif.-based digital endpoint security software provider.

The $222 million deal was announced at the end of July and will extend OpenText’s Discovery suite, which gives enterprises fast access to crucial documents, contract terms, personnel with expertise and early insights. The addition of Guidance Software’s digital investigation software EnCase allows customers complete visibility across all networks and operating systems, as well as mobile endpoint devices.

Waterloo, Ont.-based OpenText develops and sells enterprise information management solutions and is Canada’s largest software company, employing over 10,000 people worldwide.

Mark J. Barrenechea, OpenText CEO and CTO, calls Guidance Software “the golden standard in forensic security” and says the acquisition “broadens the OpenText Discovery portfolio by adding industry-leading digital investigation, eDiscovery collection, and endpoint security solutions,” in a Sept. 14 blog post.

“Information security, forensics and discovery are critical components as companies compete in the digital economy,” says Barrenechea. “The acquisition of Guidance Software underscores our commitment to the digital enterprise and broadens the OpenText Discovery portfolio through industry leading digital investigation, forensic security, and data risk management solutions. We are pleased to welcome Guidance customers, partners, and employees to OpenText today.”

The CEO adds that this acquisition will also expand the company’s presence in key verticals such as government and federal agencies, banking, and insurance.

“This acquisition combines best-of-breed OpenText [enterprise information management] solutions with forensic security technologies to bring order to information chaos; a critical ability for organizations in highly regulated and litigious industries,” concludes Barrenechea.

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Jim Love, Chief Content Officer, IT World Canada
Mandy Kovacs
Mandy Kovacshttp://www.itwc.ca
Mandy is a lineup editor at CTV News. A former staffer at IT World Canada, she's now contributing as a part-time podcast host on Hashtag Trending. She is a Carleton University journalism graduate with extensive experience in the B2B market. When not writing about tech, you can find her active on Twitter following political news and sports, and preparing for her future as a cat lady.

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