{"id":1783,"date":"2017-06-12T03:00:01","date_gmt":"2017-06-12T07:00:01","guid":{"rendered":"https:\/\/solutionsreview.com\/identity-management\/?p=1783"},"modified":"2017-06-08T11:20:16","modified_gmt":"2017-06-08T15:20:16","slug":"covisint-acquired-for-103-million-by-data-management-vendor-opentext","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/identity-management\/covisint-acquired-for-103-million-by-data-management-vendor-opentext\/","title":{"rendered":"Covisint Acquired for $103 Million by Data Management Vendor OpenText"},"content":{"rendered":"

\"\"Southfield, Michican-based Identity Management company Covisint has entered into a definitive agreement<\/a> to be acquired by data management firm OpenText. Covisint is a cloud platform provider for building Identity and Internet of Things applications.\u00a0Covisint was founded in 2000 as a consortium that included General Motors, Ford and DaimlerChrysler. It was acquired by Compuware Corp. in 2004 and spun off as a separate company in 2014.<\/p>\n

The merger will enhance the provider\u2019s\u00a0EIM offering with cloud-based IoT Platform as a Service and expand the vendor\u2019s presence in the auto industry through partnerships for supply chain collaboration.\u00a0Covisint will be integrated into the OpenText Business Network, a portfolio of cloud solutions and software that facilitates efficient, secure, and compliant information flows between organizations.<\/p>\n

The transaction is worth $103 million in market value, which translates to $75 million in enterprise value. The purchase price per share is $2.45. OpenText plans to fund the acquisition in an all-cash deal, and is expected to close in the third quarter of 2017 and is subject to customary closing conditions.<\/p>\n

OpenText has made several notable acquisitions over the last 18 months, spending more than $2.47 billion in total. In April of 2016, they swallowed up the software segment of HP, the 3rd largest software company in the world from a revenue perspective. Later that same month, they absorbed ANXeBusiness, a provider of managed network, transaction delivery, and product lifecycle management products and services. In June, enterprise search and categorization platform Recommind became a part of\u00a0the Data Management behemoth<\/a>.<\/p>\n

Read the full press release.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Southfield, Michican-based Identity Management company Covisint has entered into a definitive agreement to be acquired by data management firm OpenText. Covisint is a cloud platform provider for building Identity and Internet of Things applications.\u00a0Covisint was founded in 2000 as a consortium that included General Motors, Ford and DaimlerChrysler. It was acquired by Compuware Corp. in […]<\/p>\n","protected":false},"author":24,"featured_media":1784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[513,118,294,514],"acf":[],"yoast_head":"\nCovisint Acquired for $103 Million by Data Management Vendor OpenText - Best Identity Access Management (IAM) Software, Tools, Vendors, Solutions, & Services<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/identity-management\/covisint-acquired-for-103-million-by-data-management-vendor-opentext\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Edwards\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/solutionsreview.com\/identity-management\/covisint-acquired-for-103-million-by-data-management-vendor-opentext\/\",\"url\":\"https:\/\/solutionsreview.com\/identity-management\/covisint-acquired-for-103-million-by-data-management-vendor-opentext\/\",\"name\":\"Covisint Acquired for $103 Million by Data Management Vendor OpenText - 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