File-sharing startup Hightail has been acquired by enterprise data administration (EIM) firm OpenText. Terms of the deal weren’t disclosed.
Campbell, California-based Hightail was based in 2004 as YouSendIt, which served as a platform for sending giant file attachments that have been too huge to be despatched by electronic mail. It amassed greater than 40 million customers at its peak, however with the cloud storage panorama evolving to incorporate Dropbox, Box, and Google Drive, YouSendIt rebranded as Hightail in 2013 and refocused its efforts.
Hightail had raised round $92 million in funding, the final tranche coming by way of a $34 million money injection again in November 2013. As of at this time, Hightail claims round 5.5. million prospects globally.
Founded in 1991, OpenText is thought to be one in all Canada’s largest software program corporations, serving to giant organizations handle and make sense of all their content material and unstructured knowledge. The firm acquired Dell EMC’s enterprise content material division in a deal price $1.6 billion final 12 months.
In phrases of what OpenText has in retailer for its new acquisition, it appears Hightail might be stored going as a standalone firm, although OpenText stated that it plans to combine Hightail into a variety of its merchandise, together with OpenText Content Suite, Documentum (previously a Dell EMC product), and Core.
“The acquisition of Hightail underscores our dedication to delivering differentiated content material options within the cloud that allow entrepreneurs and artistic professionals to share, produce, and securely collaborate on digital content material,” stated OpenText CEO, CTO, and vice chair Mark J. Barrenechea. “We are happy to welcome Hightail prospects and workers to OpenText at this time.”
This article sources data from VentureBeat