M&A Deal Summary

OpenText Acquires Zix

On November 8, 2021, OpenText acquired software company Zix from True Wind Capital for 860M USD

Acquisition Highlights
  • This is OpenText’s 20th transaction in the Software sector.
  • This is OpenText’s 6th largest (disclosed) transaction.
  • This is OpenText’s 30th transaction in the United States.
  • This is OpenText’s 4th transaction in Texas.

M&A Deal Summary

Date 2021-11-08
Target Zix
Sector Software
Buyer(s) OpenText
Sellers(s) True Wind Capital
Deal Type Add-on Acquisition
Deal Value 860M USD
Advisor(s) Citigroup Investment Banking (Financial)
Baker Botts (Legal)

Target

Zix

Dallas, Texas, United States
Zix is a provider of email security services. Zix also offers superior solutions in email data loss prevention and email bring your own device (BYOD) security. Zix is trusted by the nation’s most influential institutions in healthcare, finance, and government for easy-to-use secure email solutions that meet data protection and compliance needs. Zix was founded in 1988 and is based in Dallas, Texas.

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Buyer(S) 1

Buyer

OpenText

Waterloo, Ontario, Canada

Category Company
Founded 1991
Sector Software
Employees23,700
Revenue 4.5B USD (2023)
DESCRIPTION

OpenText is an independent software provider of enterprise information management (EIM). Open Text was founded in 1991 and is based in Waterloo, Ontario.


DEAL STATS #
Overall 41 of 45
Sector (Software) 20 of 21
Type (Add-on Acquisition) 33 of 36
State (Texas) 4 of 4
Country (United States) 30 of 32
Year (2021) 1 of 2
Size (of disclosed) 6 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-09 XMedius Solutions

Montreal, Quebec, Canada

XMedius Solutions, Inc. is a provider of secure information exchange and unified communication solutions. XMedius brings decades of experience and patented technologies to transform secure and collaborative communication, enabling organizations to move more workloads to the cloud and unlock the information advantage.

Buy $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-24 Bricata

Columbia, Maryland, United States

Bricata is a cybersecurity solution provider that helps enterprises prevent or detect known threats, identify anomalies that could be threats, and also has the capability to hunt for threats already hiding inside the network. Bricata is based in Columbia, Maryland.

Buy -

Seller(S) 1

SELLER

True Wind Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2015
PE ASSETS 560M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

True Wind Capital Management LLC is a private investment firm focused on technology companies. True Wind pursues a variety of transaction types across all company stages, including management buyouts, growth financings, stake purchases, and venture. True Wind Capital Management was formed in 2015 and is based in San Francisco, California.


DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-30 AIA Contract Documents

Washington, District of Columbia, United States

AIA Contract Documents is a provider of customizable legal contracts. AIA Contract Documents has been the gold standard of legal documents and a thought leader within the construction industry for over 130 years. AIA Contract Documents was founded in 1888 and is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-17 VitalEdge Technologies

Cary, North Carolina, United States

VitalEdge Technologies is a global enterprise software provider for the equipment, heavy truck, and rental industries. The company is exclusively focused on the Industrial Machinery and Equipment (IM&E) domain, providing services to dealers and rental companies, including several Fortune 500 customers. The e-Emphasys Dealer Management Platform incorporates a full suite of best-in-class technology including Business Intelligence and Reporting, CRM, Mobile Field Service Applications, Inspection Applications, eCommerce Customer Portals, RFID, Artificial Intelligence, IoT and Telematics. VitalEdge Technologies was founded in 2001 and is based in Cary, North Carolina.

Buy -