CIMdata PLM Industry Summary Online Archive
16 December 2005
Events News
Open Text Highlights ECM Solutions at Annual and Special Meeting of Shareholders
Open TextT Corporation held its Annual and Special Meeting of Shareholders at the Toronto Stock Exchange Conference Centre on December 15, 2005.
"We have seen a dramatic change where many of our existing customers and new customers are buying our products because of compliance," said John Shackleton, President and CEO of Open Text.
Open Text highlighted this recent shift in the demand for compliance related ECM business solutions, driven by Sarbanes Oxley Act, Basel II and FDA approval. The Company discussed how these compliance needs are driving customers to purchase email archiving and records management solutions, where storing and managing emails in context to key business transactions is necessary. The Company highlighted specific compliance challenges faced by customers and discussed how Open Text solutions can help mitigate corporate risk.
The Company reviewed the strategy of securing customer investments in ECM by focusing on building compliance solutions on top of an existing infrastructure, making it easier for customers to deploy ECM solutions.
Open Text also discussed integration with SAP® and Microsoft platforms and highlighted several related product offerings that are currently available. The Company profiled its strategy to compliment and leverage its customers' primary IT investment in SAP and Microsoft, and demonstrated how Open Text solutions leverage a customer's investments in both back office ERP systems and desktop integration.
Advances in its partnership with SAP® included an overview of messaging presented by SAP executives at the Open Text LiveLinkUp Annual Users' Conference. More than 60% of all of Open Text customers now use SAP integrated ECM solutions offered by Open Text, representing over 2500 joint customers worldwide.
The Company also profiled recent advances in its ECM partnership with Microsoft, including tighter desktop and platform integration with Open Text business solutions
"Open Text is the largest Microsoft partner with a global ECM solutions delivery capability," said Tom Jenkins, Executive Chairman and Chief Strategy Officer of Open Text. "I think you will see quite a lot of activity around this in the coming year."
"Working with Microsoft and other vendors.we have the best deployment capability and the best way to give comfort to large companies that want to deploy on a global basis," said Kirk Roberts, Executive Vice President of Products.
Open Text executives also profiled the operational strategy for the coming year and discussed the Company's commitment to profitability.
"If we look at the priorities going forward.the key focus for us will be on profitability," said John Shackleton.
During the meeting, in response to a question, John Shackleton indicated that in his personal view, assuming the Company meets consensus analyst estimates expectations, the market price of the Company's shares should reach $20.00 per share in the next two quarters (subsequently clarified to have been a reference in Canadian dollars).
A replay of the call is available beginning December 15, 2005 at 1:30 p.m. ET through 11:59 p.m. on December 29, 2005 and can be accessed by dialing 416-640-1917 and using pass code 21166092#.
For more information or to listen to a replay of the call via Web cast, use the following link: http://www.opentext.com/events/event.html?id=5426595 .
To download the AGM Corporate Presentation materials, use the following link: http://www.opentext.com/investor/presentations.html.
Within 2 business days, a complete transcript of the corporate presentation made by management of the Company, including the question and answer session held at the meeting, will be made available at
http://www.opentext.com/investor/presentations.html .
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