OpenText was founded in 1991 by academics looking to create asearchable online dictionary. Given this original raisond'etre, the organization's growth in the years since has beenremarkable. “We've made 61 acquisitions, deploying a total of morethan $6 billion of capital,” explains Jon Burkhead, senior directorof global treasury for OpenText. “We average two to threeacquisitions per year.”
In its two and a half decades of existence, OpenText has evolvedinto a diversified software and services company with offeringsranging from document imaging and information management systems toa SWIFT service bureau. It has also expanded geographically: Basedin Waterloo, Ontario, OpenText operates globally, with 41 percentof sales coming from outside the Americas. Thanks to its ongoing,multifaceted growth, OpenText is a force to be reckoned with in theenterprise software market. At the same time, the acquisitions havecomplicated life for back-office functions such as treasury.
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Meg Waters
Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.
