Open Text Corp., Canada’s second- largest technology company by market value, surged to a record after agreeing to buy GXS Group Inc. in a deal worth about $1.17 billion to expand its data exchange services business.
Canadian stocks rose, with the Standard & Poor’s/TSX Composite Index climbing above the 13,000 level for the first time since July 2011, as precious metals producers jumped in the wake of a debt-limit deal in Washington.
Robert Baker can’t wait to finish his electrical engineering degree at the University of Waterloo and get away from the withering Canadian technology company down the street that used to draw the top students -- BlackBerry Ltd.
Open Text Corp. Chief Executive Officer Mark Barrenechea, taking a page from former boss Larry Ellison’s merger playbook at Oracle Corp., is planning to expand the Canadian software maker by going shopping again.
Wi-Lan Inc., an Ottawa-based company that has used lawsuits to get companies to license its technology, is enjoying its biggest rally in two years as investors see little threat from President Barack Obama’s promise to rein in patent litigation.
EasyLink Services International Corp., a provider of cloud-based business messaging and transaction services, was sued by a shareholder claiming Open Text Corp.’s $310 million takeover offer undervalues the company.
The co-founder of JC Clark Ltd., whose flagship fund quadrupled since 1999, says North American stock indexes may fall 25 percent from their 2010 highs in the next year as government debt curbs growth.