Byrne Tony Byrne

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Hummingbird ekes 10 more cents out of Open Text

4-Aug-2006

Tags: Document Management (ECM), Web Content Management, Marketplace at Large, Selecting Technology, Vendor Viability & Financials, , Web Site Management

Despite predictions of a bidding war between suitors Symphony and Open Text, ECM vendor Hummingbird has evidently signed off on an acquisition by the latter at $27.85 per share, or just 10 cents more per share than the bid that Hummingbird's board urged shareholders to reject a week ago. Those shareholders must still approve this new agreement. You can read about it from Open Text -- still no official word from Hummingbird. If this comes to pass, it seems that Hummingbird was rather quick to exit. RedDot customers will probably not be affected too much, but other Hummingbird customers should buckle up for a potentially bumpy ride...

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