OpenText acquires venture backed Hightail/YouSendIt

OpenText (NASDAQ/TSX: OTEX) has acquired Hightail, Inc., formerly known as YouSendIt, a leading cloud service for file sharing and creative collaboration with approximately 5.5 million customers globally spanning enterprise accounts, paid subscribers, and individual consumers.

Financial terms were not disclosed. Opentext said Hightail is not expected to contribute significant revenue to OpenText’s results for the fiscal third quarter ending March 31, 2018.

Campbell, California based Hightail makes creative collaboration more intuitive and accessible with its visual approach to collecting precise feedback on images and videos.

Hghtail had raised over US $83 million from venture backers including Western Digital Capital, Accolade Partners, Alloy Ventures, Sevin Rosen, Emergence Capital, Adams Street Partners and Sigma Partners. Its Series E closed in 2013.

“The acquisition of Hightail underscores our commitment to delivering differentiated content solutions in the cloud that enable marketers and creative professionals to share, produce, and securely collaborate on digital content,” said Mark J. Barrenechea, OpenText Vice Chairman, CEO and CTO. “We are pleased to welcome Hightail customers and employees to OpenText today.”

“I am excited about expanding Hightail capabilities as well as integrating Hightail into OpenText Content Suite, Documentum, Core, and Media Management, allowing our customers to seamlessly and securely collaborate with external trading partners and vendors,” added Barrenechea.

photo credit: Hightail

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.