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Hummingbird Ltd.

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Hummingbird Ltd

<tr><td colspan="2" style="text-align:center; padding:16px 0 16px 0;">Image:Hummingbird-logo.gif</td></tr>

Type Public (NASDAQ: HUMC, TSX: HUM)
Founded Toronto, Ontario (1984)
Headquarters Toronto, Ontario, Canada

<tr><th style="text-align:right; padding-right:0.75em;">Key people</th><td>Barry Litwin, Fred Sorkin (Chairman of the Board)</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Industry</th><td>Computer software</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Products</th><td>Hummingbird Connectivity
Hummingbird Enterprise
Hummingbird BI
Hummingbird SearchServer</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Revenue</th><td>Image:Green Arrow Up.svg$236.1 million USD (2005)<ref name="2005ar">Hummingbird 2005 Annual Report. Retrieved on 2006-08-05.</ref></td></tr><tr><th style="text-align:right; padding-right:0.75em;">Net income</th><td>Image:Red Arrow Down.svg$22.36 million USD (2005)<ref name="2005ar" /></td></tr><tr><th style="text-align:right; padding-right:0.75em;">Employees</th><td>1500+ (2005)<ref name="2005ar" /></td></tr><tr><th style="text-align:right; padding-right:0.75em;">Slogan</th><td>New Way. New Horizons.</td></tr><tr><th style="text-align:right; padding-right:0.75em;">Website</th><td>www.hummingbird.com</td></tr>

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.<ref>TG announces contractor's loss of borrower files (2006-05-30). Retrieved on 2006-08-05.</ref>

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,<ref>Open Text launches rival bid for Hummingbird. CBC News (2006-07-06). Retrieved on 2006-07-07.</ref> the board negotiated a "sweeter" deal with its rival and accepted an all-cash $489 million USD buy-out from Open Text.<ref>Avery, Simon. "Hummingbird okays Open Text bid", Globe and Mail, 2006-08-04. Retrieved on 2006-08-05.</ref> Following the close of the deal in October, Open Text announced a 15% global workforce reduction.<ref>King, Danny. "Open Text to Cut 500 Jobs After Buying Hummingbird", Bloomberg.com, 2006-10-16. Retrieved on 2006-10-19.</ref>

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 consolidate with existing offices of Open Text.

Contents

[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

[edit] External links

[edit] References

<references />

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