Captaris has finally found its match: Canadian software firm Open Text will acquire it for $131 million. Ontario-based Open Text has agreed...
Captaris has finally found its match: Canadian software firm Open Text will acquire it for $131 million.
Ontario-based Open Text has agreed to pay $4.80 a share for the Bellevue-based document- management software maker, the companies said Thursday. They expect the transaction to close by the end of the year, pending approval by Captaris’ shareholders and regulators.
The news pushed Captaris stock up 93 cents, or 24.9 percent, on Thursday to $4.67. It gained 3 more cents Friday, closing at $4.70.
In March, a San Francisco private-equity firm that held a stake in Captaris, frustrated at the erosion of the Bellevue company’s shares, made a $125 million bid for the company. But the offer expired.
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