OpenText buys industrial cloud services provider for $100M

WATERLOO, Ont.—Business software company OpenText says it has a deal to acquire ANXeBusiness Corp. for $100 million.

ANXeBusiness Corp., with its headquarters in Southfield, Mich., provides cloud-based information exchange services to the U.S. automotive and health-care industries.

Waterloo, Ont.-based OpenText says the acquisition, expected to close in the fourth quarter of fiscal 2015, is expected to generate approximately $30 million of annualized revenues.