Former SAP Executive to Accelerate OpenText's Growth
WATERLOO, ON, Oct. 11, 2012 /PRNewswire/ - OpenText™ (NASDAQ: OTEX, TSX: OTC), a leading provider of Enterprise Information Management (EIM) software, today announced that industry veteran James Mackey has joined the company as Senior Vice President of Corporate Development.
In this role, Mackey will be responsible for OpenText's strategic planning and acquisitions aimed at driving the company's expansion in the global Enterprise Information Management (EIM) market, which is projected to reach $19 billion in the next four years. As a member of OpenText's Executive Leadership Team, Mackey will report directly to OpenText President and CEO, Mark J. Barrenechea.
"Jim is an exceptional addition to our executive team and I am very pleased to welcome him to OpenText," said Barrenechea. "With his proven track record of generating and executing corporate development and acquisition plans that drive growth, earnings and value creation, Jim is an ideal choice to lead Corporate Development. I look forward to his ideas and contributions at OpenText."
"It is a privilege to join Mark and the OpenText team in driving the growth of EIM solutions that help customers unleash the power of their information," said Mackey. "OpenText is a clear leader in this fast growing market and I am eager to apply my experience to ensure that strategic growth initiatives extend that leadership."
Mackey has spent most of his career executing highly successful corporate strategies and acquisitions that drive revenue growth. Most recently, Mackey lead corporate development efforts at SAP AG, where he developed and lead the company's global merger and acquisitions group. He was instrumental in expanding SAP's vision and footprint by investing in market-leading technologies that enabled SAP to expand into new markets. Under his leadership, SAP completed more than 40 acquisitions, including three of the largest software acquisitions in the last five years (the $5.9 billion purchase of Sybase, the $6.7 billion purchase of Business Objects and last year's $3.6 billion acquisition of SuccessFactors).
An attorney and public accountant by training, Mackey has also held several positions as Corporate Legal Counsel providing advice on mergers and acquisitions and securities matters.
OpenText provides Enterprise Information Management software that enables companies of all sizes and industries to manage, secure and leverage their unstructured business information, either in their data center or in the cloud. Over 50,000 companies already use OpenText solutions to unleash the power of their information. To learn more about OpenText (NASDAQ: OTEX; TSX: OTC), please visit www.opentext.com.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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