Companies must check off a long list of operational requirements when it comes to handling internal data. One of the most important is enabling executives and other non-technical personnel to quickly retrieve documents necessary for their work, a need that has given rise to the multibillion-dollar enterprise information management industry.

OpenText Corp., the largest pure-play provider in the industry, today acquired a data forensics provider called Guidance Software Inc. to cement its position. The deal is worth $240 million including the latter firm’s $18 million cash on hand and will see investors receive $7.10 per share.

In return, OpenText is set to obtain Guidance’s extensive portfolio of data tools, which are used by more than three-quarters of the Fortune 100. The main highlight is the company’s EnCase bundle for pinpointing and managing files. It includes five products meant to help companies locate important information in the event of a lawsuit or other legally sensitive occasions that call for a high degree of transparency.

 Guidance’s flagship EnCase Forensic platform can be used to collect data from a wide variety sources including backend systems and employee devices. As for the other products in the lineup, they’re mostly designed to complement the software with various advanced features such as the ability to investigate how employees access company data on their workstations.

OpenText is tight-lipped about its plans for the tools. But if past acquisitions in the enterprise software market are any indication, the company will likely start adding integrations between Guidance’s products and its own. Some offerings may end up getting assimilated entirely to remove feature overlaps.

The acquisition is expected to be completed later this quarter. It comes less than a year after OpenText inked a $1.63 billion deal to buy the Enterprise Content Division of Dell Technologies Inc., a move that took a key competitor out of the picture. 

Image: Guidance Software