In the latest development in the ongoing bidding war for Hummingbird, Yuri Frayman, the vice-president of the company's legal business solutions division, has sent an open letter to law firm customers…
I wanted to personally inform you that this morning, Open Text announced its intention to make an offer through a wholly-owned subsidiary for all of the common shares of Hummingbird Ltd. According to a press release issued by Open Text, Hummingbird is a strong strategic fit that will extend Open Text’s global reach and solutions focus. Open Text has offered U.S. $1 greater than Symphony Technology Group. The Open Text offer, subject to certain customary conditions, will also be considered by Hummingbird’s Board of Directors and shareholders.
In my opinion, this news does not divert us from our focus on legal in any way. Both Symphony Technology Group and Open Text have confirmed a focus on solutions-based software, with the strength of Hummingbird’s presence in the legal market being a leading driver. As always, we will continue to keep you informed and remain committed and focused on your firm’s needs.
Vice President, Legal Business Solutions