WATERLOO, Ontario, Aug. 8, 2017 /PRNewswire/ -- OpenText™
(NASDAQ: OTEX, TSX: OTEX), the global leader in Enterprise Information Management
(EIM), today announced that its wholly-owned subsidiary, Galileo Acquisition Sub Inc., has commenced its previously announced
tender offer for all outstanding shares of common stock of Guidance Software, Inc. (NASDAQ: GUID) at a price of U.S. $7.10 per share. The tender offer is being made in connection with the Agreement and Plan of Merger, dated as
of July 25, 2017 (the "Merger Agreement"), by and among OpenText, Galileo Acquisition Sub Inc. and
Guidance, which OpenText and Guidance announced on July 26, 2017.
The Guidance board of directors has unanimously determined that the offer is advisable, fair to and in the best interests of
Guidance's stockholders and unanimously recommends that the Guidance stockholders accept the offer and tender their shares.
The tender offer is scheduled to expire at 12:00 midnight, Eastern Time, on Wednesday, September 6,
2017, unless the offer is extended or earlier terminated.
Consummation of the tender offer is conditioned upon (i) there having been validly tendered in the tender offer (in the
aggregate) and not withdrawn (and excluding any shares tendered pursuant to guaranteed delivery procedures that have not yet been
received (as defined in Section 251(h)(6)(f) of the Delaware General Corporation Law)) immediately prior to 12:00 midnight,
Eastern time, on September 6, 2017 (such date and time, as it may be extended by Galileo
Acquisition Sub Inc. from time to time in accordance with the Merger Agreement, the "Expiration Time"), that number of shares
that would, together with the number of shares (if any) then owned by Galileo Acquisition Sub Inc., OpenText and controlled
affiliates of OpenText and Galileo Acquisition Sub Inc., equal at least a majority of shares then issued and outstanding,
(ii) expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended, (iii) obtaining DSS Consent (as defined in the Merger Agreement), (iv) no Company Material Adverse Effect (as defined in
the Merger Agreement) having occurred following the date of the Merger Agreement and (v) the satisfaction of other customary
conditions as described in the Merger Agreement. Shares that are tendered pursuant to guaranteed delivery procedures will be
deemed to be validly tendered if and only if the shares subject to such guarantees have been received by the depositary prior to
the Expiration Time. There is no financing condition to the tender offer.
Complete terms and conditions of the tender offer are set forth in the Offer to Purchase, Letter of Transmittal and other
related materials, which have been filed by OpenText and Galileo Acquisition Sub Inc. with the SEC today. In addition, Guidance
has filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC relating to the tender offer.
Copies of the Offer to Purchase, Letter of Transmittal and other related materials are available free of charge from Georgeson
LLC, the information agent for the tender offer, toll-free at (800) 891-3214. Computershare Trust Company, N.A. is acting as
depositary for the tender offer.
Additional Information
This communication is provided for informational purposes only and does not constitute an offer to purchase or the
solicitation of an offer to sell any securities. OpenText and its wholly-owned subsidiary, Galileo Acquisition Sub Inc., have
filed with the Securities and Exchange Commission (the "SEC") a Tender Offer Statement on Schedule TO containing an offer to
purchase, a form of letter of transmittal and other documents relating to the tender offer, and Guidance has filed with the SEC a
Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. OpenText, Galileo Acquisition Sub Inc.
and Guidance will mail these documents to the Guidance stockholders. Investors and security holders are urged to read those
documents and other relevant documents filed or to be filed with the SEC carefully as they contain important information about
OpenText, Guidance, the tender offer and related matters. Those documents as well as OpenText's and Guidance's other public
filings with the SEC may be obtained without charge at the SEC's website at www.sec.gov. OpenText's public filings with the SEC may be obtained at OpenText's website at www.opentext.com and Guidance's public filings with the SEC may be obtained at
Guidance's website at www.guidancesoftware.com. The
offer to purchase and related materials may also be obtained for free by contacting Georgeson LLC, the information agent for the
tender offer, toll-free at (800) 891-3214.
About OpenText
OpenText enables the digital world, creating a better way for organizations to work with information, on premises or
in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
Connect with us:
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blog
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About Guidance
Guidance exists to turn chaos and the unknown into order and the known-so that companies and their customers can go
about their daily lives as usual without worry or disruption, knowing their most valuable information is safe and secure. The
makers of EnCase®, the gold standard in forensic security, Guidance provides a mission-critical foundation of market-leading
applications that offer deep 360-degree visibility across all endpoints, devices and networks, allowing proactive identification
and remediation of threats. From retail to financial institutions, our field-tested and court-proven solutions are deployed on an
estimated 35 million endpoints at more than 70 of the Fortune 100 and hundreds of agencies worldwide, from beginning to
endpoint.
Guidance Software®, EnCase® and EnForce™ are trademarks owned by Guidance Software and may not be used without prior written
permission. All other trademarks and copyrights are the property of their respective owners.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this communication, including statements regarding the transaction between OpenText and
Guidance, OpenText's and Guidance's financial results and estimates and/or business prospects, the combined company's plans,
objectives, expectations and intentions, leadership in the enterprise information management ("EIM") and
forensic security solutions industries and the expected size, scope and growth of the combined company's operations and the
markets in which it will operate, expected synergies, as well as the expected timing and benefits of the transaction, may contain
words such as "expects," "may," "potential," "upside," "approximately," "project," "would," "could," "should," "will,"
"anticipates," "believes," "intends," "estimates," "targets," "plans," "envisions," "seeks" and other similar language and are
considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's
current expectations, estimates, forecasts and projections about the transaction and the operating environment, economies and
markets in which OpenText and Guidance operate, are subject to important risks and uncertainties that are difficult to predict
and the actual outcome may be materially different. These statements reflect beliefs and assumptions that are based on OpenText's
and Guidance's perception of historical trends, current conditions and expected future developments as well as other factors
management believes are appropriate in the circumstances. In making these statements, OpenText and Guidance have made assumptions
with respect to the ability of OpenText and Guidance to achieve expected synergies and the timing of same, the ability of
OpenText and Guidance to predict and adapt to changing customer requirements, preferences and spending patterns, the ability of
OpenText and Guidance to protect their intellectual property, future capital expenditures, including the amount and nature
thereof, trends and developments in the information technology and financial sectors and other sectors of the economy that are
related to these sectors, business strategy and outlook, expansion and growth of business and operations, credit risks,
anticipated acquisitions, future results being similar to historical results, expectations related to future general economic and
market conditions and other matters. OpenText's and Guidance's beliefs and assumptions are inherently subject to significant
business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to
change. OpenText's beliefs and assumptions may prove to be inaccurate and consequently OpenText's actual results could differ
materially from the expectations set out herein.
Actual results or events could differ materially from those contemplated in the forward-looking statements as a result of the
following:
(i)
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risks and uncertainties relating to the transaction, including (a) the risk
that the businesses will not be integrated successfully or such integration may be more difficult, time-consuming or
costly than expected, which could result in additional demands on OpenText's resources, systems, procedures and controls,
disruption of its ongoing business and diversion of management's attention from other business concerns, (b) the
possibility that certain assumptions with respect to Guidance or the transaction could prove to be inaccurate, (c)
failure or delay in respect of approvals and the satisfaction of the closing conditions to the transaction, (d) the
potential failure to retain key employees of OpenText or Guidance as a result of the transaction or during integration of
the businesses and (e) disruptions resulting from the transaction, making it more difficult to maintain business
relationships;
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(ii)
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risks and uncertainties relating to OpenText, including (a) the future
performance, financial and otherwise, of OpenText, (b) the ability of OpenText to bring new products to market and to
increase sales, (c) the strength of OpenText's product development pipeline, (d) OpenText's growth and profitability
prospects, (e) the estimated size and growth prospects of the EIM market, (f) OpenText's competitive position in the EIM
market and its ability to take advantage of future opportunities in this market, (g) the benefits of OpenText's products
to be realized by customers and (h) the demand for OpenText's products and the extent of deployment of OpenText's
products in the EIM marketplace; and
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(iii)
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risks and uncertainties relating to future events, conditions or
circumstances, or other general risks, including (a) integration of other acquisitions and related restructuring efforts,
including the quantum of restructuring charges and the timing thereof, (b) the possibility that OpenText may be unable to
meet its future reporting requirements under the U.S. Securities Exchange Act of 1934, as amended, and the rules
promulgated thereunder, (c) the risks associated with bringing new products to market, (d) fluctuations in currency
exchange rates, (e) delays in the purchasing decisions of OpenText's customers, (f) the competition OpenText faces in its
industry and/or marketplace, (g) the possibility of technical, logistical or planning issues in connection with the
deployment of OpenText's products or services, (h) the continuous commitment of OpenText's customers and (i) demand for
OpenText's products.
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For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form
10-K filed on August 3, 2017, including Part I, Item 1A, "Risk Factors" therein, Quarterly Reports
on Form 10-Q, Current Reports on Form 8-K and other securities filings with the SEC that are available at the SEC's website at
www.sec.gov and other securities regulators. Many of these factors are beyond
OpenText's control. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to
update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Copyright ©2017 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive
of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property
of Open Text. All rights reserved. For more information, visit: http://www.opentext.com/who-we-are/copyright-information.
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