Modern Work Management

Zix Acquisition Case Study Acquired Zix Case Study 12/23/21 for 3.6x TTM revenue (1) Executing Our Playbook Less than 4x revenue Strategic Rationale Revenue Synergies • Expense Synergies • • SMB platform expansion MSP go-to-market alignment Complementary product portfolio Cyber resiliency cross-sell opportunities Customer entry point via Microsoft resell Increased corporate ARR Increased cloud margins On target model in <12-18 months Broadened organic & inorganic growth platform Scaling new SMB platform ✓ Accelerated cloud revenue ✓ Attractive growing TAM Sustainable organic growth ✓ Strengthening partnerships 1. Total purchase price of approximately $896.0 million, inclusive of Zix's cash and debt, approximately 3.6x TTM (Trailing Twelve Months) Zix reported revenues (as of September 30, 2021). opentext™ Open Text ©2022 All rights reserved 82

View entire presentation