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Canadian software maker Open Text to buy cloud company for $1.17 billion

Canadian business software maker Open Text Corp said it would buy privately-held cloud computing company GXS Group Inc for $1.17 billion.GXS's cloud-based services help more than 550,000 e-commerce businesses to integrate and manage processes and transactions.Open Text said in a statement that it would pay about $1.07 billion of the deal amount in cash and $100 million in its common shares.(Reporting by Sayantani Ghosh in Bangalore; Editing by Kirti Pandey)...

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