OpenText Looks to Capitalize on HP-Autonomy Blunder

OpenText president and CEO, Mark J. Barrenechea, said:

We want to help Autonomy customers concerned with uncertainty about the future. With the OpenText trade-in offer, we’re providing an opportunity for a simple switch to OpenText software from Autonomy software, with no increase to a customer’s current software costs, but with a clear and confident path to future value and more innovation.

The promise is that OpenText will work closely with Autonomy customers to achieve a seamless transition with minimal disruption to their organization. OpenText Professional Services teams and OpenText partners will be on hand to ensure a smooth transition. This trade-in offer will expire December 31, 2012.

Moving to capitalize on the blunders of others is nothing new. Still, OpenText is only a $3.2 billion company by market cap, and its fiscal 2013 revenues ending in June are only expected to be almost $1.4 billion. Any gains that the company can make by taking away business from others would help. Note also that OpenText shares have risen about 4% over the past week.

JON C. OGG