Press Releases Details

Toronto, ON - 2002-09-19 - Open Text Corporation (Nasdaq: OTEX, TSX: OTC) and Centrinity, Inc., (TSX: CTI) today announced that they have entered into a definitive acquisition agreement in which Open Text will acquire all of the issued and outstanding shares of Centrinity, Inc., for cash consideration of CDN $1.26 per share. The companies expect the transaction to close in the next quarter. The closing of the transaction is subject to conditions, including the receipt of regulatory approval and Centrinity shareholder approval.

The board of directors of Centrinity unanimously approved the transaction and will call a special meeting of shareholders as soon as possible to approve the transaction. A management circular describing the terms and voting instructions will be distributed to shareholders. The directors of Centrinity have indicated their intent to vote their shares in favour of the transaction. Yves Desjardins-Siciliano, Chairman of Centrinity stated, "This transaction provides significant financial benefit to the shareholders of Centrinity. They will receive cash proceeds significantly greater than what they could obtain by selling their shares in the market prior to this announcement."

Centrinity has more than 8 million users of its FirstClass® Communications Platform, which is a cost-effective, highly scalable messaging and collaboration solution designed for business, government, educational institutions and service providers. FirstClass provides a unified mailbox that brings together a user's e-mail, voicemail and fax messages. Users, whether mobile or in the office, can access their mailbox from the device of their choice a cell phone, telephone, computer or handheld device.

Leveraging Centrinity's technology and expertise will enable Livelink® customers to integrate the previously disparate worlds of e-mail, voicemail and other unstructured content, and provide organizations with the ability to apply retention rules and compliance policies to the entire collection of corporate knowledge. Open Text has designed Livelink to capture information generated through online collaboration and preserve it in a company's knowledge base. Technology from the two companies will accelerate the integration between voice and data conferencing capabilities in Livelink MeetingZone .

"With Centrinity, we're adding a great team of technical experts who have developed a leading technology platform for messaging and communications," said Tom Jenkins, Chief Executive Officer of Open Text. "Upon completion of the acquisition, we will work together to integrate our teams, while continuing to support and serve FirstClass customers. Going forward, we have a great opportunity to take two types of content, voice communication and messaging, and fully integrate them into Livelink, creating innovative new collaborative knowledge management solutions."

"Joining hands with Open Text, an established global software powerhouse, brings greater depth of resources and technology and helps us better meet the support and service needs of our customers worldwide. FirstClass customers will benefit from the integration of Open Text's collaboration, knowledge management and content management technologies into FirstClass," said John Myers, Chief Operating Officer of Centrinity.

Centrinity is based in Richmond Hill, Ontario, and has offices in the United Kingdom, Ireland and Sweden.

Open Text confirms Q1 guidance and will be providing increased forward guidance for this fiscal year as well as next year. Open Text expects the transaction to be accretive to earnings in its next quarter.

Financial Analyst Briefing

The companies will present further information on the acquisition during an audio conference call for the financial community, scheduled for today at noon EDT.

Jane Mowat
Executive Vice President and CFO
Centrinity, Inc.
+1-905-762-6043
jane_mowat@centrinity.com

Margaret Williamson
Manager, Corporate Communications
Centrinity, Inc.
+1-905-762-6234
margaret_williamson@centrinity.com

Richard Maganini
Open Text Corporation
1-847-961-0662
rmaganin@opentext.com

Greg Secord
Open Text Corporation
+1-519-888-7111 ext.2408
gsecord@opentext.com