Open Text buying Vignette

WATERLOO – Open Text Corp. OpenTex102X25.JPGputs up US$310 million in cash and stock to buy money-losing Vignette Corp., an Austin, Texas-based firm that helps customers manage documents and websites. The buy gives Open Text access to Vignette clients like Telefonica SA, Europe’s second-largest phone company, and NASA, which uses Vignette to make the InsideNASA and MyNASA gateways. Vignette’s Q1 revenue dropped 24%, as losses more than doubled to $1.8 million from $800,000 in the same period a year earlier.

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