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Open Text to buy Hummingbird

I’m out on the west coast today, so when I woke up one of my Stellent co-workers was pinging me on IM with the news that Open Text was going to acquire Hummingbird.  Open Text was on a buying spree awhile ago, but has been struggling a bit for the last year to prove to the street that it could be profitable.  Most of their buying activity slowed down while they focused efforts inward, but I have to say that Hummingbird is one of the companies that had been a rumoured target before.  They’re in the same market, but don’t tend to compete directly that much which means their market share should be complementary.  They’re also both headquartered near Toronto, so there is likely to be some good synergies and close working relationships between staff (which was IMHO a struggle wafter aquiring Munich-based IXOS).
I expect that this will be a big year for the Enterprise Content Management space, as consolidation continues, big players like Microsoft and IBM make their presence more and more felt, and companies wake up to the need.  It should be an interesting year to be in this space!

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Categories: Front Page
  1. Nick
    July 7, 2006 at 12:14 am

    Way to go Pete – first blog entry on finance.google.com – that’s too funny.

  2. bum
    September 30, 2006 at 9:09 pm

    It all makes perfect sense.

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