Canadian business software maker OpenText has entered into an agreement to buy Metastorm Inc., with the Baltimore-based software firm becoming a subsidiary.
Metastorm stockholders will receive $182 million under the terms of the cash deal. A majority of the privately held company’s stockholders have already signed off on the deal.
“We are excited by the opportunity to join the OpenText team,” Metastorm chairman and CEO Robert Farrell said Wednesday in a prepared statement. “Combined with OpenText, Metastorm will be able to provide a broader and deeper range of offerings to our customers, while leveraging the strength and stability that comes with being part of a larger global organization.”
The deal is expected to close in Open Text’s third quarter, which ends March 31.