HP Inc. on Tuesday sold off its multichannel marketing software assets, which account for about $125 million in annual sales, to enterprise software maker OpenText in a $315 million all-cash deal.
The marketing software assets are targeted squarely at the customer experience management (CEM) market, where Waterloo, Ontario-based OpenText already is a significant player.
OpenText shares were up $1.87, or 3 percent, to $60.31, in late afternoon trading. HP Inc. shares remained relatively unchanged, down about 1 cent per share to $13.10.
