Open Text, a provider of enterprise information management systems, will acquire certain customer experience software and services assets from HP, including HP Explore, a voice of the customer, speech, social media, customer feedback, and cross-channel analytics product; HP TeamSite, a multichannel digital experience management platform for Web content management; HP MediaBin, a digital asset management solution; HP Qfiniti, an intelligent contact center workforce optimization solution; HP Aurasma, an augmented reality platform; and HP Optimost, a marketing content A/B testing solution.
The transaction purchase price is approximately $170 million. The customer experience software business being acquired is expected to generate between $85 million and $95 million in annual revenue.
Several of the components of the deal are based on technology that HP acquired in its $11 billion acquisition of Autonomy in 2011. Following that acquisition, HP went into years-long legal battles in both the United States and the United Kingdom, where Autonomy was based, claiming over-valuation of the company and serious accounting improprieties.
OpenText expects the acquisition to complement its current software portfolio, particularly its customer experience management and cloud offerings. In addition, this acquisition is expected to enhance the multichannel digital experience of OpenText's customers by providing them with software products in marketing optimization, mobile marketing, and voice of the customer programs.