ZIXI - Zix Corporation is now a wholly-owned subsidiary of OpenText

OpenText (NASDAQ:OTEX) has completed the closing of the previously announced acquisition of Zix Corporation (NASDAQ:ZIXI). OpenText CEO & CTO Mark J. Barrenechea said, "Zix meaningfully expands our distribution capabilities with MSP partners, enhances our SMB offering and deepens our go-to-market relationship with Microsoft. We are targeting for Zix to be on our operating model within 12-18 months and as previously highlighted, once integrated, we expect Zix to be accretive to organic growth and margin dollars." The company expects no material revenue or operating expenses from Zix over the holiday season between December 23rd and 31st, within the current quarter. The company announced the acquisition in first week of November for $860M or for $8.50 per share and was expected to close by mid February 2022.

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Zix Corporation is now a wholly-owned subsidiary of OpenText