Canadian technology giant Open Text has agreed to acquire EasyLink Services International. The deal is worth $310 million.
Waterloo's Open Text will pay $7.25 per share of Atlanta's EasyLink, which provides electronic messaging and business services. The deal is expected to close by the end of summer.
"Easylink is a recognized leader in cloud-based Secure Information Exchange. We see strong opportunities for our mutual customers, partners, employees and product roadmap," said OpenText CEO Mark J. Barrenechea. "EasyLink has demonstrated operational discipline and earnings as reflected in their financial results. Once the transaction is closed, we look forward to the market opportunities of offering a best-in-class combined portfolio of cloud-based services."