Hummingbird Ltd.
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| Hummingbird Ltd | |
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| Type | Public (NASDAQ: HUMC, TSX: HUM) |
|---|---|
| Founded | Toronto, Ontario (1984) |
| Headquarters | Toronto, Ontario, Canada |
| Key people | Barry Litwin, Fred Sorkin (Chairman of the Board) |
| Industry | Computer software |
| Products | Hummingbird Connectivity Hummingbird Enterprise Hummingbird BI Hummingbird SearchServer |
| Revenue |  $236.1 million USD (2005)[1] |
| Net income |  $22.36 million USD (2005)[1] |
| Employees | 1500+ (2005)[1] |
| Slogan | New Way. New Horizons. |
| Website | www.hummingbird.com |
Hummingbird Ltd. (previously NASDAQ: HUMC, TSX: HUM) is a subsidiary of Open Text and is a provider of enterprise software solutions. Initially founded as a consulting business in 1984, Hummingbird evolved into a strong player in the connectivity market. Diversifying its business, Hummingbird is now a leading provider of enterprise software solutions. Its enterprise content management (ECM) solutions helps customers to manage the entire lifecycle of enterprise content.
On May 26, 2006, Hummingbird informed Texas Guaranteed Student Loan Company that it had lost a piece of equipment -- albeit password protected -- containing the unencrypted personal data (names and social security numbers) of an estimated 1.3 million Texas student loan recipients.[2]
In May 2006, the company's board of directors agreed to be sold to Symphony Technology Group, but following a hostile bid from Open Text,[3] the board negotiated a "sweeter" deal with its rival and accepted an all-cash $489 million USD buy-out from Open Text.[4] Following the close of the deal in October, Open Text announced a 15% global workforce reduction.[5]
Hummingbird has 40 offices worldwide. Customers include IBM, NASA, Morgan Stanley, Boeing, and The Government of Canada. It is expected that many of these offices will be consolidated with existing offices of Open Text.
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[edit] Governance
The following were directors at the time of the sale to Open Text:
- Fred Sorkin - Chairman of the Board
- Alan Barry Litwin - Corporate Director
- John T. McLennan - Independent Director
- Andrew J. Malik - Managing Director, Lehman Brothers, Inc.
- Mark D. Spitzer - Independent Director
- Inder P.S. Duggal - Corporate Director
- Stephen A. Crane - Chairman and Chief Executive Officer AlphaStar Insurance Group Limited
- Jack Langer - Independent Director
[edit] History
- 1984 - Hummingbird founded.
- 1993 - Completes $45 million CAD IPO of common shares in Canada, on the TSE.
- 1994 - Completes US$34.5 million additional and secondary offering of common shares on NASDAQ.
- 1995 - Acquires Beame & Whiteside Software Inc., developer of NFS products.
- 1997 - Acquires TN3270 and TN5250 terminal emulation software from McGill University and PolarSoft Inc. in Canada.
- 1998
- Acquires business intelligence solutions vendor, Andyne Computing Ltd.
- Acquires Datenrevision of Hamburg, Germany, a software consulting and distribution company.
- 1999
- Acquires Leonard's Logics SA, of Paris, France, makers of Genio, a data transformation and exchange tool for deployment of data marts.
- Acquires PC DOCS Group International
- 2000 - Acquires imaging technology from Diamond Head Software Inc.
- 2001 - Acquires UK company, PeopleDoc.
- 2003
- Acquires legal practice management firms LegalKEY Technologies and Kramer Lee & Associates.
- Acquires Valid Information Systems.
- Acquires Key Automation Nederland B.V. and its affiliate Dispro B.V., distributors and integrators of document management solutions in the Netherlands and Benelux.
- 2005 - Hummingbird acquires RedDot Solutions, rounding out its integrated ECM offering.
- 2006 - Hummingbird acquired by Open Text for $489 million
[edit] External links
[edit] References
- ^ a b c Hummingbird 2005 Annual Report. Retrieved on August 5, 2006.
- ^ TG announces contractor's loss of borrower files (2006-05-30). Retrieved on August 5, 2006.
- ^ Open Text launches rival bid for Hummingbird. CBC News (2006-07-06). Retrieved on July 7, 2006.
- ^ Avery, Simon. "Hummingbird okays Open Text bid", Globe and Mail, 2006-08-04. Retrieved on August 5, 2006.
- ^ King, Danny. "Open Text to Cut 500 Jobs After Buying Hummingbird", Bloomberg.com, 2006-10-16. Retrieved on October 19, 2006.
