<article>Canadian business software maker<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=OpenText+Corp"> OpenText Corp</a> said it would buy <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=HP+Inc">HP Inc</a>&#8216;s customer management software business for $315 million.</article>

Canadian business software maker<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=OpenText+Corp"> OpenText Corp</a> said it would buy <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=HP+Inc">HP Inc</a>&#8216;s customer management software business for $315 million.
The business is expected to generate between $110 million and $125 million of annualized revenue and immediately add to earnings, OpenText said on Monday.
The deal comes two months after Open Text bought a set of content management software tools from HP for about $170 million.
OpenText, one of Canada&#8217;s largest software companies, makes products used by businesses to manage large volumes of content.
HP Inc houses the former Hewlett-Packard Co&#8217;s legacy hardware business. The company has been cutting jobs as part of a restructuring program as it looks to rein in costs.
OpenText&#8216;s shares were up about 2 percent at C$76.64 in morning trading on the Toronto Stock Exchange on Monday.
Up to Friday&#8217;s close, OpenText&#8216;s shares had fallen 44 percent over the last 12 months, while HP&#8217;s shares fell nearly 10 percent.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/hp-enterprise-to-merge-it-services-unit-with-computer-sciences-42096/">HP Enterprise to merge IT services unit with Computer Sciences</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/blackstone-to-acquire-hps-60-stake-in-mphasis-36250/">India: Blackstone acquires HP’s 60% in Mphasis for $825m</a>
Reuters

Canadian business software maker OpenText Corp said it would buy HP Inc's customer management software business for $315 million.

Canada's OpenText to buy some HP Inc assets for $315m

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Canada's OpenText to buy some HP Inc assets for $315m

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief