OpenText Acquires Email Security Firm Zix for $860 Million

guest · Nov 9, 2021

OpenText Acquires Email Security Firm Zix for $860 Million
November 9, 2021
https://www.securityweek.com/opentext-acquires-email-security-firm-zix-860-million

OpenText will acquire Zix for $8.50 per share in cash. Zix shares surged on October 19, after Reuters reported that the company had been “exploring strategic alternatives that include a sale of the company.”

Zix said the acquisition by OpenText will help it grow further, with the deal expected to result in more resources and product capabilities.

“Closing is subject to the tender of two-thirds of Zix’s common shares outstanding as well as customary regulatory approvals and other customary conditions, and the transaction is expected to close within 90 days of this announcement,” the companies said in a press release announcing the deal.
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Zix provides email encryption, email threat protection, email message privacy, backup and recovery, information archiving, secure file sharing, and Microsoft 365 products.
Zix on Monday also released its financial report for the third quarter of 2021.
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OpenText: OpenText to Acquire Zix Corporation

Strengthens SMB Platform with Cloud-based Email Security & Compliance Solutions, Brings 5,600 Managed Service Partners, Extends Microsoft Relationship
Waterloo, ON – 2021-11-8 – OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today announced that it has entered into a definitive agreement to acquire Zix Corporation, Inc. (NASDAQ: ZIXI) ("Zix"), a leader in SaaS-based email encryption, threat protection and compliance cloud solutions for Small and Medium-sized Businesses (SMBs).
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Zix: Zix to be Acquired by OpenText™ for $8.50 Per Share in Cash

DALLAS--(BUSINESS WIRE)--Nov. 8, 2021-- Zix Corporation (NASDAQ: ZIXI) (“Zix”), a leading provider of cloud email security, threat protection and compliance cloud solutions for Small and Medium-sized Businesses (SMBs), today announced that it has entered into a definitive agreement to be acquired by OpenText™, a market-leading provider of Information Management solutions, for $8.50 per share in cash, representing an enterprise value of $860 million.
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OpenText Acquires Email Security Firm Zix for $860 Million

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OpenText Acquires Email Security Firm Zix for $860 Million

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