Search
General Images Of Retail And Economy In Guangzhou
Dell-EMC's enterprise content division (ECD) generated about $599 million in revenue in 2015. Photograph by Brent Lewin—Bloomberg via Getty Images

OpenText Is Buying Dell-EMC’s Content Division for $1.62 Billion

Sep 12, 2016

Canadian business software maker OpenText (otex) said it agreed to buy Dell-EMC's enterprise content division for $1.62 billion as it looks to expand its services to larger businesses.

The Dell-EMC enterprise content division (ECD) offers content management services for enterprises and generated about $599 million in revenue in 2015.

OpenText, one of Canada's largest software companies, makes products used by enterprises to manage large volumes of content and it has been buying related businesses to boost its customer base.

The company in June agreed to buy HP (hpe) customer management software business. Two months before that it bought a set of content management software tools from HP for about $170 million.

OpenText said it expected its latest deal to close within 90 to 120 days and then immediately add to its earnings.

Barclays, which acted as a financial adviser, has provided a $1 billion debt commitment for the deal, OpenText said.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions