Through the acquisition of Zix, the company expects to get 5,600 managed service partners as well as extend its partnership with Microsoft
OpenText completes the acquisition of Zix. (Credit: Scooter de/Wikipedia.org)
Canadian software firm OpenText has wrapped up its previously announced $860m acquisition of email encryption solutions provider Zix.
Listed on the Nasdaq at the time of signing the deal, Zix caters to small and medium-sized businesses (SMBs) with SaaS-based email encryption, threat protection, and compliance cloud solutions.
The company’s shareholders were offered $8.50 per share in cash as consideration by OpenText, as per the deal announced in November 2021.
OpenText had previously stated that the acquisition of the email encryption solutions provider will enable it to get 5,600 managed service partners as well as extend its partnership with Microsoft.
The addition of Zix will also allow it to strengthen its SMB platform with cloud-based email security and compliance solutions, said OpenText.
OpenText CEO and CTO Mark Barrenechea said: “I would like to welcome Zix customers, partners, and employees to OpenText. Combined, we will be able to provide our customers a powerhouse SMB platform for data protection, threat management, email security and compliance solutions.
“Zix meaningfully expands our distribution capabilities with MSP partners, enhances our SMB offering and deepens our go-to-market relationship with Microsoft.”
OpenText had earlier revealed its intentions to combine Carbonite, Webroot, and Zix products to build a powerhouse SMB platform for providing data protection, threat management, email security, and compliance solutions.
Last month, the Canadian firm purchased Bricata, a US-based provider of network detection and response (NDR) technology, for an undisclosed price. The NDR security technologies of Bricata are deployed for analysing network traffic to detect vulnerabilities and threats.