OpenText Announces The OpenText Cloud
Open Text Corporation and EasyLink Services International Corporation (EasyLink) announced the completion of the merger of EasyLink with an indirect wholly-owned subsidiary of OpenText. The merger was approved by the stockholders of EasyLink at a special meeting held earlier today. As a result of the merger, EasyLink became an indirect wholly-owned subsidiary of OpenText.
The OpenText Cloud is immediately available worldwide. We now service over 25,000 customers and 2 million end users for Infrastructure Services, Social Enterprise Services, Process and Data Services and SAAS-based Information Exchange; processing over 2 billion transactions a year. Some of our customers include Institute of Public Administration of Canada, USDA, Mizuno, Dell and La Poste. The OpenText Cloud is based on combined capabilities from OpenText and EasyLink. For more information, please visit: www.opentext.com/cloud
"The OpenText Cloud is a platform for Enterprise Information Management. OpenText is the only vendor who can offer this complete suite of capabilities in the cloud, from Enterprise Content Management through Information Exchange," said OpenText CEO, Mark J. Barrenechea. "Furthermore, I welcome the EasyLink customers, partners and employees to OpenText."
As a result of the merger EasyLink's common stock ceased trading on the Nasdaq Capital Market at market close today and its shares will no longer be listed. Stockholders who hold shares through a bank or broker will not have to take any action to have their shares converted into cash, since these conversions will be handled by the bank or broker. Stockholders who hold certificates can surrender their certificates for $7.25 per share in cash, without interest, through the paying agent for the merger, American Stock Transfer & Trust Company. AST will be sending out a letter of transmittal and instructions to registered stockholders in the next several days regarding specific actions they will need to take to surrender their shares for the merger consideration. EasyLink's stockholders of record should wait until they receive the letter of transmittal before surrendering their share certificates.