OpenText was founded in 1991 by academics looking to create a searchable online dictionary. Given this original raison d'etre, the organization's growth in the years since has been remarkable. “We've made 61 acquisitions, deploying a total of more than $6 billion of capital,” explains Jon Burkhead, senior director of global treasury for OpenText. “We average two to three acquisitions per year.”
In its two and a half decades of existence, OpenText has evolved into a diversified software and services company with offerings ranging from document imaging and information management systems to a SWIFT service bureau. It has also expanded geographically: Based in Waterloo, Ontario, OpenText operates globally, with 41 percent of sales coming from outside the Americas. Thanks to its ongoing, multifaceted growth, OpenText is a force to be reckoned with in the enterprise software market. At the same time, the acquisitions have complicated 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.
