OpenText to Acquire Zix Corporation
Strengthens SMB Platform with Cloud-based Email Security & Compliance Solutions, Brings 5,600 Managed Service Partners, Extends Microsoft Relationship
OpenText announced that it has entered into a definitive agreement to acquire Zix Corporation, Inc., a leader in SaaS-based email encryption, threat protection and compliance cloud solutions for Small and Medium-sized Businesses .
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“We are pleased to announce our intent to acquire Zix, and I look forward to welcoming Zix customers, partners and employees to OpenText,” said OpenText CEO & CTO Mark J. Barrenechea. “We intend to integrate Carbonite, Webroot and Zix products to create a powerhouse SMB platform for data protection, threat management, email security and compliance solutions. Acquisitions of cloud growth assets like Zix highlights our commitment to our Total Growth strategy and approach to cash-based returns.”
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“Zix will deepen our technology and go-to-market relationship with Microsoft. Further, Zix will bring approximately 5,600 MSPs to OpenText, and create significant cross-sell opportunities in the OpenText and Zix clouds. Announcement demonstrates our commitment to winning in both the Enterprise and SMB markets,” said Mr. Barrenechea.
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“The acquisition of Carbonite in December 2019 and its successful integration has given us the confidence and readiness to expand even further into the SMB market” added OpenText EVP & CFO, Madhu Ranganathan. “Zix brings a meaningful addition to our cloud revenues and will be immediately accretive to our adjusted EBITDA. Once integrated, we expect Zix to contribute to organic growth in cloud and Annual Recurring Revenues, be on the OpenText operating model for profitability and meet our cash-based returns criteria. We remain committed to maintaining a healthy balance sheet, delivering strong earnings, and continuing to invest in our organic growth initiatives.”
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