OpenText has completed the closing of its previously announced $860m acquisition of Zix, a SaaS-based email encryption, threat protection and compliance cloud services provider in the SMB market space.
“I would like to welcome Zix customers, partners and employees to OpenText,” said OpenText CEO and CTO Mark Barrenechea (pictured). “Combined, we will be able to provide our customers a powerhouse SMB platform for data protection, threat management, email security and compliance solutions. Zix meaningfully expands our distribution capabilities with MSP partners, enhances our SMB offering and deepens our go-to-market relationship with Microsoft.”
Zix says 90% of its revenues are recurring.
Barrenechea added: “OpenText is committed to winning information management in both the enterprise and SMB markets. 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.”
