OpenText, a provider of information management services, has purchased Zix Corp.The deal transaction involved a purchase of $8.50 per share in cash, representing an enterprise value of $860 million.
Zix is a provider of cloud email security, threat protection and compliance cloud solutions for small and medium sized businesses. The firm delivers simple services for email encryption, data loss prevention, threat protection, unified information archiving and cloud to cloud backup.
“Over the past several years, Zix has expanded its product portfolio and customer base through acquisitions and organic initiatives,” said Dave Wagner, Zix’s CEO. “We are thrilled to join forces with OpenText and add Zix’s Secure Cloud Platform to the Carbonite and Webroot products in OpenText’s SMB Platform.”
“This transaction, which has been unanimously approved by the Zix Board, delivers to Zix’s stockholders liquidity, value certainty and a high likelihood and speed to closing with a proven acquiror,” added Robert Hausmann, chairman of Zix.