Open Text buys former high-flyer Burntsand

Canadian technology consultancy Burntsand has agreed to be bought by Waterloo's Open Text for about $11 Million. Open Text will buy all Burntsand shares at 15 Canadian cents apiece, which is a 114 percent premium to their closing price Friday, and merge Burntsand with an Open Text unit.

This closes the book on a former high-flying Canadian company that many will recognize from the Internet boom from 10+ years ago. Burntsand (TSX: BRT) was trading at $13.95 on March 10, 2000, the day the dot-com bubble burst.

Company:: Burntsand
Website:: http://www.burntsand.com
Location:: Toronto, Ontario, Canada

Burntsand is a Solutions Integrator focusing on business solutions that deliver enhanced productivity. Burntsand's success results from its ability to rapidly create company-wide integrated business solutions for clients in the areas of Portals, Relationship Management, Content Management, Business Intelligence and Knowledge Management. These solutions integrate into the client's enterprise architecture.... more

Company:: OpenText
Website:: http://www.opentext.com
Location:: Waterloo, Ontario, Canada

OpenText, an enterprise software company and leader in enterprise content management, helps organizations manage and gain the true value of their business content. OpenText brings two decades of expertise supporting millions of users in 114 countries. Working with our customers and partners, we bring together leading Content Experts to help organizations capture and preserve corporate memory, increase brand... more

Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com. His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more

Open Text buys former high-flyer Burntsand

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