Google Cloud Deal Sends Canada’s Open Text to Record High
- Deal includes integrating G Suite apps with Open Text software
- Open Text apps will be available on Google’s cloud platform
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Open Text Corp. rose to a record high Tuesday after the software company said it had expanded a partnership with Google’s cloud division, including integrating its own products with Google’s G Suite brand applications.
Open Text was up 2.5% to C$56.11 at 1:24 p.m. in Toronto, its biggest intraday gain since May 8. The Waterloo, Ontario-based company provides enterprise content management software to help its customers manage documents and workflows, among other tasks. Its stock has gained 26% this year.