Pillr Provides a Managed Detection and
Response (MDR) Platform for MSPs integrated with OpenText's
Cybersecurity
WATERLOO, ON, May 22, 2024
/PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX),
today announced that it has purchased Pillr, an MDR platform from
Novacoast, Inc.
Pillr technology is a cloud native, multi-tenant MDR platform
for Managed Service Providers (MSPs) that includes 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 skill gaps, skill shortages, and alert
fatigue create a significant need today.
The acquisition accelerates OpenText's Cybersecurity product
roadmap to offer key features including API integrations and
product/pricing bundling for MSPs seeking a comprehensive solution
to protect, detect and respond to cybersecurity threats.
"We are pleased to welcome Pillr customers and employees to
OpenText", said Mark J. Barrenechea OpenText CEO & CTO.
"Cyber threats continue to rise fast and are growing more
sophisticated. Organizations need advanced Managed Detection and
Response solutions to prevent attackers from gaining the foothold
needed to launch an attack. The combination of Pillr's platform
with our existing Threat Detection offerings strengthens OpenText's
position in the cybersecurity market and reinforces our commitment
to our SMB partners and customers."
The Pillr technology acquisition is not material to OpenText's
financial results.
About OpenText
OpenText, The Information Company™,
enables organizations to gain insight through market leading
information management solutions, powered by OpenText Cloud
Editions. For more information about OpenText (NASDAQ: OTEX, TSX:
OTEX) visit opentext.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this press release may
contain words considered forward-looking statements or information
under applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Readers are cautioned not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. Unless otherwise required by applicable
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update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Further,
readers should note that we may announce information using our
website, press releases, securities law filings, public conference
calls, webcasts and the social media channels identified on the
Investors section of our website (https://investors.opentext.com).
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blog, X, formerly known as Twitter, account or LinkedIn account.
The information posted through such channels may be material.
Accordingly, readers should monitor such channels in addition to
our other forms of communication.
OTEX-MNA
Copyright ©2024 Open Text. OpenText is a trademark or
registered trademark of Open Text. The list of trademarks is not
exhaustive of other trademarks. Registered trademarks, product
names, company names, brands and service names mentioned herein are
property of Open Text. All rights reserved. For more information,
visit: https://www.opentext.com/about/copyright-information.
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SOURCE Open Text Corporation