The new year has been pretty quiet on the acquisition front for OpenText, but today, they showed some love for the cloud file sharing and collaboration firm Hightail, announcing they had acquired Hightail for an undisclosed amount.
This latest purchase adds to OpenText's content arsenal, including OpenText Content Suite, Documentum, Core, and Media Management. With this move, OpenText continues to display their aggressive cloud strategy, as enterprise file synchronization and sharing technologies tighten their foothold on the enterprise.
Hightail, formerly known as YouSendIt, was founded by Ranjith Kumaran in 2004 and is headquartered in Campbell, California. Hightail's service is a mash up of file sharing/syncing capabilities, like Dropbox and Box, and document delivery. The service offers functionalities such as confirmation of delivery, file tracking and notification of file download by the recipient, basic collaboration, and end-to-end file encryption. The company boasts 5.5 million customers globally.
In a statement, OpenText CEO Mark Barrenechea said, "The acquisition of Hightail underscores our commitment to delivering differentiated content solutions in the cloud that enable marketers and creative professionals to share, produce, and securely collaborate on digital content."
OpenText reports that the purchase of Hightail is not expected to contribute significant revenue for their fiscal third quarter.
