Business News

Open Text Receives CFIUS Clearance for Vignette Acquisition

Thursday 09. July 2009 - Open Text Corporation (NASDAQ:OTEX) (TSX: OTC) and Vignette Corporation (NASDAQ:VIGN) today announced that the Committee on Foreign Investment in the United States (CFIUS) has concluded its review of the joint filing made by Open Text and Vignette in connection with Open Text's acquisition of Vignette, and has issued to Open Text and Vignette a letter stating that there are no unresolved national security concerns with respect to the transaction and that the review has been concluded.

As previously announced, Open Text and Vignette have entered into a definitive merger agreement in which Open Text will acquire Vignette for a purchase price of approximately US $317 million (based upon the closing price of Open Text common stock on July 8, 2009) in a mix of cash and Open Text common stock. With the letter from CFIUS, the CFIUS condition to closing of the acquisition has been satisfied.