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

Tuesday, 5 Nov 2013 | 7:45 AM ET

Nov 5 (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)

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