OpenText Acquires Covisint

The leading Cloud platform for building digital identity management, Internet of Things (IoT) applications, and automotive and transportation supply chains

Today is a very exciting day for OpenText customers as we announce the acquisition of Covisint, the leading Cloud platform for building digital identity management, Internet of Things (IoT) applications, and automotive and transportation supply chains. This acquisition extends the reach of the OpenText Business Network, helping our customers to connect, secure, and exchange the information generated by billions of devices and systems, from engagement to insight. As the digital backbone for secure, global information exchange, the OpenText Business Network processes over $7 trillion USD in commerce every year.

OpenText is helping customers connect with their information in whole new ways.  And with Covisint, we can help our customers listen to their information at the scale of the Internet of Things.

Connect with your information in a whole new way

Our investment in Covisint builds on our existing presence in the automotive industry, demonstrated by our acquisition of ANX last year. As industries are being disrupted by technology, automotive firms are restructuring their supply chains to improve business performance and deliver new sources of value and differentiation.

Covisint was born in the automotive market; it has been reborn for all industrial machines.

Covisint solutions are enabled by patented identity and access management, as well as API-driven services—technologies that are leading the evolution of the IoT. Organizations use Covisint’s cloud-based IoT platform to dynamically integrate multi-tiered supply chain communities and rapidly build enterprise IoT solutions for greater efficiency, agility, and new value-added services.

The IoT is reshaping the auto industry. The market is projected to have billions of connected devices by the year 2020. Sensors and other devices will enable auto makers to analyze performance, obtain data on how drivers use their cars, and make upgrades in real time. Technologies at the forefront of automotive innovation include real-time traffic and incident alerts, telematics, and self-driving cars. The information generated by these technologies and devices requires advanced connectivity, security, access management, integration, and analytics—all core competencies offered by OpenText and Covisint.

At OpenText, we are defining the future of digital. We are The Information Company, combining enterprise information with apps, the Business Network, IoT, developers, and artificial intelligence systems. This latest acquisition will drive the next wave of digital transformation by enabling customers to extend the information available for engagement, management, and insight into IoT-connected objects and devices.

Please join me in welcoming the Covisint team, customers, and partners to the OpenText family.

Read the press release.

Mark Barrenechea

Mark J. Barrenechea is OpenText’s Chief Executive Officer and Chief Technology Officer. A prominent thought leader, he has extensive experience in information technology and his vision is to enable the digital world to help transform organizations.

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