After rescuing LAVA's Canadian branch, Open Text Corporation has signed a purchase agreement with LAVA Asia Pacific, the Australian part of the knowledge management solutions specialist. The deal followed Open Text Corporation's unsuccessful bid for Canadian PC Docs, at the end of last year.
The current contract resulted in amalgamation of LAVA and Open Text Corporation, to go by the name of Open Text. Prior to the agreement, the companies went through a few months of negotiations to establish the terms of the deal.
At this stage the details are not being disclosed, yet Charles Lattuca, general manager for LAVA Division of Open Text assures the customers of both companies they will "see tremendous value added to their original investments." He further explains that "the acquisition allows Open Text to merge enterprise-level integration software with its flagship collaborative knowledge management application, Livelink," The statement is supported by Michael Farrel, Open Text Corporation's executive vice president for Asia Pacific, who claims that "Open Text plans to fully support LAVA customers throughout the Asia Pacific and will continue to enhance LAVA's suite of products, while integrating LAVA technology with Livelink."
Overall, Open Text is to benefit from LAVA's ERP systems and its substantial experience in the financial and insurance services.