Lava Systems Africa, an affinity partner of Canadian-based Open Text, and one of the companies within the Enterprise Content & Wireless (ECW) Group, today announced the latter's acquisition of Momentum Systems, Inc., a privately held company that specialises 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.
Established in 1993 and based in Arlington, Virginia, Momentum Systems has been a leading Open Text Global Alliance Partner in the U.S. government sector for more than 12 years. With an experienced staff of about 50 people located primarily in the Washington D.C. area, Momentum has had a successful track record of implementing and supporting Livelink ECM solutions across all levels of government, including at some of the U.S.'s largest federal agencies. The acquisition will not result in any material change to staff levels at either Momentum or at Open Text.
For further information, please contact Ray Dalgarno, Lava Systems Africa: tel 011 675-7193, fax 011 675-4075, e-mail rayd@lavasystems.co.za
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ECW is the merged entity of Lava Systems Africa and Lava Systems Mobile (LSM).
The Lava Systems Africa (LSA) team originated in the late 1990's with the objective of becoming a premier supplier of enterprise systems based around Knowledge Management, Document Management, Records Management, Image Management, Collaboration and Workflow solutions. The emerging demands that were identified included Government Process re-engineering, Supply Chain Co-ordination, Customer Relationship Management, e-Government and B2B processing. In support of these business aims the technology platforms chosen had to enjoy a proven global track record and adhere to open Internet architecture standards and developments. LSA is a South African-based company dedicated to the sales, marketing, support and consultancy founded upon the Livelink product suite from Open Text, a product that the staff have been involved with since 1998. LSA user base embraces customers from both the private and public sector and includes organisations such as Bateman Projects Limited, Alexander Forbes, the Gauteng Provincial Government and the National Social Security Fund of Uganda.
Lava Systems Mobile, a company focusing on the development of mobile applications and tools, was originally created in 2005 and later that year absorbed KeyTools, a well established mobile applications software developer with international links.
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