Canadian software maker Open Text to buy cloud company for $1.17 billion

(Reuters) - Canadian business software maker Open Text Corp said it would buy privately-held cloud computing company GXS Group Inc for $1.17 billion. GXS's cloud-based services help more than 550,000 e-commerce businesses to integrate and manage processes and transactions. Open Text said in a statement that it would pay about $1.07 billion of the deal amount in cash and $100 million in its common shares. (Reporting by Sayantani Ghosh in Bangalore; Editing by Kirti Pandey)



via Tech News Headlines - Yahoo! News http://news.yahoo.com/canadian-software-maker-open-text-buy-cloud-company-124732431--sector.html