OpenText acquires EasyLink

Bloomberg Businessweek reports.

The agreement to buy EasyLink is the latest in a string of more than 12 acquisitions OpenText has made since 2008. Recent acquisitions include Metastorm and Global 360, The Record.com states.

News of the purchase of EasyLink came as OpenText reported a quarterly profit of $34.8 million or 59c per diluted share, down from $35.8 million or 61c per diluted share a year ago.

The transaction is expected to close by mid-to-late 2012, subject to EasyLink's stockholder approval, certain regulatory approvals and customary closing conditions, Market Watch says.

OpenText CEO Mark Barrenechea says: "EasyLink has demonstrated operational discipline and earnings as reflected in their financial results. Once the transaction is closed, we look forward to the market opportunities of offering a best-in-class combined portfolio of cloud-based services."