Open Text said Wednesday it plans to acquire fellow content management tools provider Vignette for about US$310 million in cash and stock. The deal is expected to be finalized in the second half of this year.

The combined company will make Open Text, already one of the content management sector’s few large independent companies, even bigger. Open Text, based in Waterloo, Ontario, Canada, has 46,000 customers and reported $725 million in revenue for 2008.

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