Metastorm stockholders to get $182m in cash, subject to a customary indemnification holdback
Open Text, a provider of enterprise content management software, has signed an agreement to acquire Metastorm through a merger of Metastorm with a subsidiary of OpenText.
Metastorm is a provider of Business Process Management (BPM), Business Process Analysis (BPA), and Enterprise Architecture (EA) software for aligning strategy with execution headquartered in Baltimore, Maryland.
As per the agreement, Metastorm stockholders will receive $182 million in cash, subject to a customary indemnification holdback.
Stockholders representing a majority of the ownership of Metastorm have signed conditional support agreements in support of the transaction, the company said.
OpenText president and chief executive officer John Shackleton said Metastorm will add complementary technology and expertise that enhances their ECM solutions portfolio.
Metastorm chairman and chief executive officer Robert Farrell said combined with OpenText, Metastorm will be able to provide a broader and deeper range of offerings to its customers, while leveraging the strength and stability that comes with being part of a larger global organisation.