Hummingbird Ltd.
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| Type | Subsidiary of public company |
|---|---|
| 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] |
| 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 including Exceed. 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. It is expected that many of these offices will be consolidated with existing offices of Open Text. Customers include IBM, NASA, Morgan Stanley, Boeing, and The Government of Canada.
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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 Toronto Stock Exchange.
- 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.
- 1996 - Purchased naming rights to the O'Keefe Centre, now known as Sony Centre for the Arts.
- 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
- 2008 - Gold Coast City Council rolls Hummingbird out as document management system to 3000+ employees
[edit] External links
- Milestones, from Hummingbird web site.
[edit] References
- ^ a b c "Hummingbird 2005 Annual Report". http://mimage.hummingbird.com/alt_content/binary/pdf/investors/2005annualreport.pdf. Retrieved on 2006-08-05.
- ^ "TG announces contractor's loss of borrower files". 2006-05-30. http://www.tgslc.org/newsroom/news/2006/press060530.cfm. Retrieved on 2006-08-05.
- ^ "Open Text launches rival bid for Hummingbird". CBC News. 2006-07-06. http://www.cbc.ca/story/business/national/2006/07/06/opentext-hummingbird.html. Retrieved on 2006-07-07.
- ^ Avery, Simon (2006-08-04). "Hummingbird okays Open Text bid". Globe and Mail. http://www.theglobeandmail.com/servlet/story/RTGAM.20060804.wr-hummingbird05/BNStory/Technology/home. Retrieved on 2006-08-05.
- ^ King, Danny (2006-10-16). "Open Text to Cut 500 Jobs After Buying Hummingbird". Bloomberg.com. http://www.bloomberg.com/apps/news?pid=20601082&sid=aMD_umOCIwFk&refer=canada. Retrieved on 2006-10-19.
