OpenText (Nasdaq: OTEX), an information management company for enterprise businesses, is buying Guidance Software (Nasdaq: GUID) for the target’s forensic security and digital investigation software technology. Software-as-a-service companies have continually sparked deals across the middle-market where the tech community has seen an influx of cyber and malware attacks recently.
Founded in 1997, Guidance Software provides forensic security services for clients in the U.S., Europe, Asia and internationally. The Pasadena, California-based target offers end-point investigation tools for cybersecurity, security incident response, e-discovery, data privacy and forensic analysis. The company’s portfolio of products include: EnCase Endpoint Security, which offers crucial IT cybersecurity functionality; and EnCase Endpoint Investigator, an investigative SaaS tool that allows an organization to collect and analyze data on the servers, desktops, and laptops across the enterprise network. Guidance Software, EnCase and EnForce are among the target’s trademarked brands. The deal for Guidance Software is valued at approximately $240 million.