- OpenText announced Monday that it is buying parts of HP Inc.’s customer experience content management business for $170 million.
- The company, a Canada-based content management company, expects to generate between $85 million and $95 million of revenue in the first year. If those numbers are correct, OpenText could make back the cost of the acquisition in just two years.
- HP’s customer experience management business includes a web content management tool, a digital asset management solution and a workforce optimization solution for enterprise contact center management, among others.
Last November, HP officially became two companies: HP Inc., which largely consists of personal computers and printers, and Hewlett Packard Enterprise, which sells the computer servers, data storage, networking, software and consulting services intended for business use.
Though they are intended for the enterprise, the products OpenText bought weren’t included in the HPE part of the company during the split. Some analysts suspect that’s because HP Inc. had planned to sell those pieces from the beginning, according to TechCrunch.
While OpenText may be looking to push further into enterprise content management, HP appears to be divesting some assets and streamlining its products. Rather than offering a vast array of services, HP can instead focus on core markets and work to remain competitive while the PC market continues to decline.