OpenText to acquire Guidance Software for $222 million
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OpenText said Wednesday that it plans to acquire Guidance Software, the makers forensic security software, for about $222 million.
Guidance Software is known for its digital discovery and endpoint information security products. Waterloo, Ontario-based OpenText plans to use the deal to bolster its overall infosec portfolio, with the primary gain centering around Guidance's digital investigation and forensic products.
Under the terms of the agreement, Guidance Software will become a wholly owned subsidiary of OpenText. The purchase is expected to close in the third quarter of this year.
OpenText focuses on enterprise information management and has a portfolio that extends into content management for industries, customer experience, and data discovery. In January, OpenText completed the purchase of Dell EMC's enterprise content unit, which includes Documentum.
Earlier this month the company launched an artificial intelligence platform called Magellan that it hopes to use to compete with the likes of IBM Watson.