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Wednesday, February 2, 2011

Open Text profit, revenue rise; to buy Metastorm, (TSE: OTC), (NASDAQ: OTEX)

Canadian business software maker Open Text (OTC.TO)(OTEX.O) beat analyst expectations for profit and revenue on Wednesday as its licensing sales rebounded, and said it would buy smaller company Metastorm. Open Text's adjusted net income jumped 41 percent to $70.5 million, or $1.21 a share, on revenue of $267.5 million in its second quarter, ended Dec. 31, the company said in a statement. Analysts, on average, had expected Open Text to earn $1.07 per share on an adjusted basis, on revenue of $254.4 million, according to Thomson Reuters I/B/E/S.

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