OpenText completes acquisition of GXS

Friday 17 January 2014 09:15 CET | News

OpenText, a Canadian business-software provider, has completed its previously announced acquisition of GXS, a US-based e-invoicing at B2B e-commerce services company..

OpenText paid USD 1.065 billion in cash consideration (of which approximately USD 887.9 million was used to repay outstanding indebtedness of GXS and approximately USD 29.3 million to pay certain GXS transaction and other related costs), and almost USD 53.7 million for the working capital of the business. USD 60 million of this cash consideration is subject to customary escrow terms and conditions for a period of time post-closing. Pursuant to the merger agreement, OpenText also agreed to issue to the sellers USD 100 million worth of OpenText common shares.

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Keywords: OpenText, acquisition, GXS, e-invoicing, US, Canada, B2B, e-commerce
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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