Open Text to Buy Vignette

Enterprise content management maker Open Text plans to acquire rival Vignette for approximately $US310 million ($414 million) in a cash and stock deal. Vignette shareholders will receive $US8 in cash plus 0.1447 of an Open Text common share for every Vignette common share. This equates to approximately US$12.70 at close of market on 5 May. According to Open Text, the offer represents a premium of around 74 per cent above the 30 trading day average closing price of Vignette’s shares and approximately 41 per cent above the most recent closing price. The Vignette buy is the latest in a string of acquisitions for Open Text that have included e-documents provider Captaris

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