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April 25, 2013
10:14 EDTOTEX, JCOMJ2 Global enters settlement and patent license deal with Open Text
j2 Global (JCOM) disclosed in a regulatory filing that it has entered into a settlement and patent license agreement with Open Text Corporation (OTEX) to resolve patent litigation asserted by the company and its affiliates against Open Text its affiliates. Open Text will pay j2 Global $27M in exchange for a fully paid up license to the Licensed j2 Patents for fax software and services sales to enterprise and corporate customers. Open Text has also agreed pay j2 Global a running royalty for a license to the Licensed j2 Patents for sales of fax software and services to individual and small office/home office customers, provided that such royalty exceeds a stipulated minimum amount. j2 Global said I will recognize a portion of the $27M as revenues and income during Q2 and the balance on a quarterly basis over the lives the Licensed j2 Patents. The company and Open Text have agreed to cause all outstanding litigation between them and their affiliates to be dismissed with prejudice and have granted each other full mutual releases, j2 said.
News For JCOM;OTEX From The Last 14 Days
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December 16, 2014
09:02 EDTOTEXOpen Text commences tender offer forActuate
Open Text (OTEX) announced that its wholly-owned subsidiary, Asteroid Acquisition Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of Actuate (BIRT), including the associated preferred stock purchase rights issued under the Rights Agreement, at a price of $6.60 per share. The tender offer is scheduled to expire at 9:00 A.M., New York City time, on Friday, January 16, unless the offer is extended or earlier terminated.
December 15, 2014
17:20 EDTOTEXOpen Text reports 11.9% stake in Actuate
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December 12, 2014
14:30 EDTJCOMj2 Global management to meet with Wedbush
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14:13 EDTJCOMj2 Global management to meet with Wedbush
Meeting with President & CFO Turicchi to be held in Boston on December 15 hosted by Wedbush.
December 5, 2014
16:52 EDTJCOMDow just below 18K as market finishes week with gains
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16:36 EDTOTEXOn The Fly: Closing Wrap
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09:02 EDTOTEXActuate to be acquired by Open Text in deal with equity value of $330M
Actuate Corporation (BIRT) announced that it has entered into an agreement to be acquired by OpenText (OTEX). Under the terms of the merger agreement, an affiliate of OpenText will commence a tender offer to the Actuate stockholders to purchase any and all shares of common stock they hold for $6.60 in cash per share. The purchase price represents an approximately 89% premium to the closing price of Actuate common stock on December 4, 2014, and an equity value of approximately $330M. The addition of Actuate enables OpenText to enhance their products with embedded analytics as well as enter a growing market. Together Actuate and OpenText will seek to extend the benefits of embedded analytics to more geographies and industries. Industry research indicates embedded analytics is increasing in its importance. Embedded analytics turns information into intelligence by providing users with relevant, actionable insights delivered within the context of the application. This adds substantial value for companies embedding analytics into applications to help drive better customer engagement and improved decision making. The Board of Directors of Actuate has unanimously approved the transaction. The transaction is expected to close in 1Q15, subject to Actuate stockholders tendering a majority of Actuate’s outstanding shares pursuant to the tender offer and other customary closing conditions, including regulatory approvals.
09:01 EDTOTEXOpen Text agrees to acquire Actuate for $6.60 per share
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