WASHINGTON (dpa-AFX) - EasyLink Services International Corp. (ESIC) said Tuesday that it has agreed to be bought by OpenText Corp. (OTEX, OTC.TO) for $7.25 per share in cash.
The purchase price is about $310 million, inclusive of debt.
EasyLink said its board of directors determined that the offer from OpenText represented a significant premium and pursuant to its fiduciary duties unanimously approved the proposed merger.
The deal is expected to close in mid to late summer of 2012.
Tom Stallings, chief executive officer of EasyLink, said, 'This acquisition supports all of the hard work our colleagues around the world have done to create a strong business. By acquiring EasyLink, OpenText will be able to build upon EasyLink's portfolio of cloud-based on-demand and supply chain solutions and leverage its talented employees, industry expertise and broad customer base.'
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© 2012 AFX News
