Shearman & Sterling represented GXS Group, a Francisco Partners portfolio company, in its sale to Open Text Corporation in a transaction valued at $1.165 billion. The transaction, subject to customary closing conditions, is expected to close within 90 days.

GXS is a leading B2B Integration Services provider servicing over 550,000 trading partners worldwide. GXS is privately held, headquartered in Gaithersburg, Maryland, has approximately 2,900 employees and reported Fiscal Year 2012 revenues of $487 million. Its customer base includes 50 percent of the Forbes Global 1000.

Francisco Partners, based in San Francisco, California, is a leading technology-focused private equity firm.

OpenText provides Enterprise Information Management software that helps companies of all sizes and industries to manage, secure and leverage their unstructured business information, either in their data center or in the cloud. Over 50,000 companies already use OpenText solutions to unleash the power of their information.

The Shearman & Sterling team included partners Michael Kennedy and Steve Camahort (San Francisco-Mergers & Acquisitions), counsel Jeffrey Wolf (San Francisco-Mergers & Acquisitions), and associates Donald Guthrie (San Francisco-Mergers & Acquisitions), Lisa Lopshire (San Francisco-Mergers & Acquisitions) and Joshua Reynolds (San Francisco-Mergers & Acquisitions). Also involved were partners Samuel Waxman (New York-Intellectual Property Transactions), Doreen Lilienfeld (New York-Executive Compensation & Employee Benefits), Larry Crouch (Palo Alto-Tax), JD DeSantis (New York-Capital Markets), and Beau Buffier (New York-Antitrust); counsel Dan Stellenberg (Palo Alto-Executive Compensation & Employee Benefits); and associates Kelly Karapetyan (New York-Antitrust), Timothy Haney (New York-Antitrust), Zheng Bao (Palo Alto-Intellectual Property Transactions), Joe Tucci (Palo Alto-Tax), Kerry Neligan (New York-Executive Compensation & Employee Benefits) and Ben Petersen (Palo Alto-Intellectual Property Transactions).