February 23, 2010 (FinancialWire) — Open Text Corp. (NASDAQ: OTEX) (TSX: OTC), a Canadian provider of enterprise content management software, and Nstein Technologies Inc. (TSX Venture: EIN) said they have entered into a definitive agreement by which Open Text will acquire all of the issued and outstanding common shares of Nstein through an Nstein shareholder-approved amalgamation with a subsidiary of Open Text.

Under the deal, Nstein shareholders will receive for each Nstein common share, CDN $0.65 in cash, unless certain eligible shareholders otherwise elect to receive a fraction of an Open Text TSX traded common share having a value of CDN $0.65 based on the volume weighted average trading price of Open Text TSX traded common shares in the 10 trading day period immediately preceding the closing date of the acquisition.

According to Open Text, the purchase price represents a premium of around 100 percent above the 30 trading day average closing price of Nstein’s common shares. The transaction is valued at around CDN $35 million.

Open Text CEO John Shackleton said the acquisition will extend the breadth of Open Text’s ECM offerings and further Open Text’s position as a leading independent ECM vendor in the marketplace.

Montreal-based Nstein’s solutions are sold across major market segments, such as media and information services, life sciences and government.

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