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Waterloo's Open Text buying some HP assets

Logo from Open Text.

Waterloo-based Open Text Corp. says it will pay US$315 million to acquire some of HP Inc.’s business assets.

The transaction includes HP Extream, HP Output Management, HP TeleForm and HP LiquidOffic, collectively used to manage customer communications.

Open Text says the purchase will help it expand its range of customer communications management products and services.

It estimates that the acquired HP businesses will generate between US$110 million and US$125 million of annualized revenue.

Open Text expects the sale to close in the first quarter of its 2017 financial year, which begins July 1.