Good coverage from 451:
- “maintenance contracts account for half [of OpenText’s] revenue, and 75% of revenue is recurring.”
- “EMC ECD is made up of more than 20 acquired product sets, all of which provide support for unstructured data. This technology ranges from records and digital-asset management to e-discovery and beyond. The core platform was in the process of being re-architected over the past few years; it is still a complex and expensive system of record.”
- The $1.6bn deal size is a 2.8x multiple.
- “OpenText has now spent $2.4bn on five purchases in 2016 – both numbers are record highs for the company.”