WASHINGTON (AP) -- Open Text Corp., a Canadian software company, will acquire Captaris Inc. for $131 million cash, the companies said Thursday.Open Text is offering $4.80 per share for Captaris, a premium of 28 percent over its closing price of $3.74 on Wednesday.
Open Text, based in Waterloo, Ontario, makes enterprise content management software. Captaris, based in Bellevue, Wash., makes software used to automate business processes, manage documents electronically and perform functions such as converting paper documents to digital content.
The deal is expected to close by the end of the year, subject to approval by regulators and Captaris shareholders.
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