OpenText Corporation (NASDAQ: OTEX), (TSX: OTEX) announced that it has acquired Pillr, an MDR platform, from Novacoast, Inc.
Pillr technology is a cloud-native, multi-tenant MDR platform for managed service providers (MSPs) with managed detection and response and powerful threat hunting capabilities. This combination of Pillr technology and OpenText security expertise provides enhanced threat hunting, monitoring, and response for customers where skills gaps, skills shortages, and alert fatigue create significant needs today.
This acquisition accelerates OpenText’s cybersecurity product roadmap, delivering key capabilities such as API integration and product/price bundling for MSPs seeking a comprehensive solution to protect, detect, and respond to cybersecurity threats. will now be provided.
“We are pleased to welcome Pillr customers and employees to OpenText,” said Mark J. Barrenechea, CEO and CTO, OpenText. “Cyber threats continue to grow rapidly and become more sophisticated, and organizations need advanced managed detection and response solutions to prevent attackers from gaining the foothold they need to launch an attack. Combining Pillr’s platform with our existing threat detection services strengthens OpenText’s position in the cybersecurity market and reinforces our commitment to our small business partners and customers.”
The Pillr Technology acquisition is not material to OpenText’s financial results.
About Open Text
OpenText, The Information Company
helps organizations gain insight through market-leading information management solutions powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX), please visit opentext.com.
Notes regarding future forecasts
Certain statements in this press release may contain language that may be considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText’s current expectations, estimates, projections and projections regarding the operating environment, economy and markets in which OpenText operates. These statements involve important assumptions, risks and uncertainties that are difficult to predict and could cause actual results to differ materially. Although OpenText’s assumptions are believed to be reasonable by the Company as of the date of this press release, they may prove to be inaccurate and, as a result, actual results may differ from those presented herein. may differ significantly from your expectations. For additional information regarding potential risks and other factors, please refer to OpenText’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC and other securities regulatory authorities. Please refer to the securities registration statement. Readers are cautioned not to place undue reliance on such forward-looking statements. These statements speak only as of the date on which they are made. Except as otherwise required by applicable securities laws, OpenText disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, readers should be aware that we provide information on our website, press releases, securities law filings, public conference calls, webcasts, and social media as described in the Investors section of our website (https://investors.opentext.com). Please note that we may use media channels to publish information. . Such social media channels may include our or our CEO’s blog, our X (formerly known as Twitter) account, or our LinkedIn account. Information posted through such channels may be material. Therefore, readers should monitor such channels in addition to other forms of communication.
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