Open Text Acquires Burntsand

Burntsand Inc. announced that it has entered into a definitive agreement with Open Text Corporation under which Open Text expects to acquire all of the issued and outstanding common shares of Burntsand through a Burntsand shareholder-approved amalgamation with a subsidiary of Open Text under the Canada Business Corporations Act (the Agreement ). The Agreement includes customary non-solicitation and right to match provisions and Burntsand has agreed to pay Open Text a termination fee in certain circumstances if the amalgamation is not completed. The directors and officers of Burntsand, and one shareholder of Burntsand, collectively representing in aggregate approximately 21.7% of the issued and outstanding shares of Burntsand, have entered into voting agreements with Open Text to vote in favour of the amalgamation. http://www.opentext.com/ http://www.burntsand.com/