OpenText to restructure as it integrates Carbonite into business

  • 31 January 2020
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Technology Reporter Published January 30, 2020 Updated 7 hours ago   Open this photo in gallery
OpenText CEO Mark Barrenechea speaks at the Open Government Partnership Global Summit in Ottawa on May 29, 2019.
Justin Tang/The Canadian Press

Open Text Corp. will spend as much as US$34-million on restructuring as it integrates recently acquired U.S. security-software firm Carbonite Inc., but the Waterloo, Ont.-based company will not reveal how many employees will be affected.

 

https://www.theglobeandmail.com/business/article-open-text-to-restructure-as-it-integrates-carbonite-into-business/


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Thank you Daniel,

 

To see or read the article in your post do you have to be a Subscriber?

Userlevel 7

Thank you Daniel,

 

To see or read the article in your post do you have to be a Subscriber?


I would think so as it’s a newspaper but I can see the part that I posted and that’s it. https://www.theglobeandmail.com/

 

 

 

Userlevel 7
Badge +58

Thank you Daniel,

 

To see or read the article in your post do you have to be a Subscriber?


I would think so as it’s a newspaper but I can see the part that I posted and that’s it. https://www.theglobeandmail.com/

 

 

 


Okay Thanks! I did not see that this was a newspaper.:nerd:

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Here is a bit more info: https://headtopics.com/ca/open-text-to-restructure-as-it-integrates-carbonite-into-business-11014472

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Super! That was a interesting read! :blush:

Here is a bit more info: https://headtopics.com/ca/open-text-to-restructure-as-it-integrates-carbonite-into-business-11014472

 

Userlevel 7
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Thank you Daniel. Interesting news about the aquisition.

Userlevel 7

Sounds like some of the Webroot Employees will probably be packing up and moving to Canada, eh.

Canada is good country. I spent may a nights taking an 8 hour break at the Fifth Wheel Truck Stop (now closed) in Bowmanville, Ontario. (Daniels neighborhood).

Userlevel 7

Sounds like some of the Webroot Employees will probably be packing up and moving to Canada, eh.

Canada is good country. I spent may a nights taking an 8 hour break at the Fifth Wheel Truck Stop (now closed) in Bowmanville, Ontario. (Daniels neighborhood).

10 minutes away and I remember that place! https://www.tripadvisor.ca/Restaurant_Review-g499253-d765778-Reviews-Fifth_Wheel_Truck_Stops_Bowmanville-Bowmanville_Ontario.html

 

https://www.durhamregion.com/news-story/5915020-bowmanville-5th-wheel-to-close/

Userlevel 7

A bit more info:

 

Integration of Carbonite and Restructuring Plan

As OpenText integrates the acquisition, we anticipate a one-time deferred revenue adjustment that will result in a reduction in Carbonite revenue. In addition to this deferred revenue adjustment impact, we expect Carbonite revenue contribution to be down for the next few quarters due to typical integration activities, and then normalize to historical levels thereafter. 

OpenText is also announcing a restructuring plan that will impact our global workforce and consolidate certain real estate facilities to further streamline our operations, inclusive of Carbonite.   The anticipated cost is expected to be approximately $26 million to $34 million. These restructuring activities are anticipated to be completed by the end of Fiscal 2021, and once completed, OpenText anticipates annualized cost savings of approximately $37 million to $41 million. We expect any savings realized during the remainder of Fiscal 2020 to be largely offset by one-time Carbonite integration costs.

 

https://investors.opentext.com/news-releases/news-release-details/opentext-reports-second-quarter-fiscal-year-2020-financial

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