Waterloo-based OpenText has announced the acquisition of Catalyst Repository Systems, a global e-discovery solutions provider from Denver.
The approximately $75 million all-cash transaction was announced Thursday evening, and according to Mark J. Barrenechea, OpenText’s CEO and CTO, it extends the company’s leadership in both the enterprise e-discovery and legal tech markets.
“With legal solutions available as hosted SaaS or managed services, OpenText is uniquely positioned to help corporations take advantage of market disruption,” Barrenechea wrote in a blog post. “Catalyst brings 20 years of proven success with top corporations and legal firms to the OpenText Legal portfolio, including localized knowledge, language and expertise in Asia.”
Barrenechea noted the legal tech market is estimated to be in the billions, with AI and machine learning driving innovation and helping people find information as thoroughly and quickly as possible. Catalyst will be integrated into OpenText’s discovery solutions, he added.
“With analytics and technology assisted review at the core of our integrated offerings, synergies between OpenText and Catalyst products will provide a range of legal solutions unmatched in the market today,” he said.
This is OpenText’s second major acquisition since December, when it scooped up cloud-based data management company Liaison Technologies Inc. in an all-cash $310 million (USD) transaction.