The Ontario, Canada-based enterprise software company OpenText announced Wednesday it has acquired the San Francisco e-Discovery and legal technology company Recommind for $163 million.
The deal is expected to close in the first quarter of 2017, according to a press release.
OpenText also said it believes Recommind will generate between $70 million and $80 million in annual revenue and be immediately accretive to earnings.
Recommind primarily produces three products: Its flagship software, Axcelerate, is used for eDiscovery review and analysis.
Last year, it also unveiled Perceptiv, which is being used in partnership with Deloitte to extract data from over-the-counter derivative legal agreements. ...
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