Exhibit 99.1

PRESS RELEASE

Open Text Reports Fourth Quarter and

Year-End 2007 Financial Results

Integration of Hummingbird Contributes to Strong Results

Waterloo, ON – August 30, 2007 – Open Text™ Corporation (NASDAQ:OTEX) (TSX:OTC), a leading provider of Enterprise Content Management (ECM) software, today announced unaudited financial results for its fourth quarter and fiscal year ended June 30, 2007. (1)

Total revenue for the fourth quarter was $175.2 million, compared to $105.2 million for the same period in the prior fiscal year. License revenue in the fourth quarter was $59.2 million, compared to $32.0 million in the fourth quarter of the prior fiscal year. License revenues grew 38% from $43.0 million in the previous quarter ended March 31, 2007.

Adjusted net income in the quarter was $26.6 million or $0.52 per share on a diluted basis, compared to $15.4 million or $0.31 per share on a diluted basis for the same period in the prior fiscal year. Net income in accordance with U.S. generally accepted accounting principles (“US GAAP”) was $8.2 million or $0.16 per share on a diluted basis, compared to $7.8 million or $0.16 per share on a diluted basis for the same period in the prior fiscal year. (2)

Total revenue for fiscal year 2007 was $595.7 million, compared to $409.6 million for the previous fiscal year. License revenue for fiscal year 2007 was $182.5 million, compared to $122.5 million in the previous fiscal year. Adjusted net income for fiscal year 2007 was $74.3 million, or $1.46 per share on a diluted basis, compared to adjusted net income for the previous fiscal year of $50.8 million, or $1.01 per share on a diluted basis. This represents a growth of 45% of adjusted EPS for the year. Net income for fiscal year 2007 in accordance with US GAAP was $21.7 million, or $0.43 per share on a diluted basis, compared to the prior fiscal year’s net income of $5.0 million, or $0.10 per share on a diluted basis. (2)

Operating cash flow in the fourth quarter of fiscal 2007 was $28.5 million, compared to $15.4 million in the fourth quarter of the prior fiscal year. For the full 2007 fiscal year, Open Text generated $110.9 million in operating cash flow compared to $60.8 million in fiscal 2006.

“The Company plans to make an additional debt repayment of $30 million. This will reduce our debt from $390 million at the time of the Hummingbird acquisition to approximately $327 million the quarter. We are pleased with our accelerated repayment of the debt ahead of schedule and planning for future lump sum debt repayments will continue to be reviewed on a periodic basis,” said Paul McFeeters, Chief Financial Officer of Open Text.

The cash, cash equivalents and short-term investments balance as of June 30, 2007 was $150.0 million. Accounts receivable as of June 30, 2007, totaled $128.8 million, compared to $75.0 million as of June 30, 2006, and Days Sales Outstanding (DSO) was 66 days in the fourth quarter of fiscal 2007, compared to 64 days in the fourth quarter of fiscal 2006.

“I am very pleased with our performance in the quarter and for the full fiscal year. The integration of Hummingbird has gone well and investments in our partner strategy are paying off,” said John Shackleton, President and Chief Executive Officer of Open Text. “We will continue to focus on profitability as we now position the Company for growth in fiscal 2008.”

Please see note (2) below for a reconciliation of non-US GAAP based financial measures used in this press release, to US GAAP based financial measures.

Teleconference Call

Open Text will host a conference call on August 30, 2007 at 5:00 p.m. ET to discuss the final financial results of its fourth quarter and fiscal year-end 2007.

Date:	Thursday, August 30, 2007
Time:	5:00 p.m. ET/2:00 p.m. PT
Length:	60 minutes
Where:	416-640-1907

Please dial-in approximately 10 minutes before the teleconference is scheduled to begin. A replay of the call will be available beginning August 30, 2007 at 7:00 p.m. ET through 11:59 p.m. on September 13, 2007 and can be accessed by dialing 416-640-1917 and using pass code 21238674#.

For more information or to listen to the call via Web cast, please use the following link:

http://www.opentext.com/events/event.html?id=5726174

About Open Text

Open Text™ is the world’s largest independent provider of Enterprise Content Management software. The company’s solutions manage information for all types of business, compliance and industry requirements in the world’s largest companies, government agencies and professional service firms. Open Text supports approximately 46,000 customers and millions of users in 114 countries and 12 languages. For more information about Open Text, visit www.opentext.com.

# # #

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – This press release contains forward-looking statements, including statements about the financial conditions, results of operations and earnings and revenue outlook for Open Text Corporation (“Open Text” or “the Company”). Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause the Company’s actual results to differ materially from those anticipated. The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The results included in this press release are unaudited and therefore are deemed to be forward-looking statements. Factors that may cause actual results or earnings to differ materially from such forward-looking statements include, among others, the following: (i) the future performance, financial and otherwise, of Open Text; (ii) the ability of Open Text to bring new products to market and to increase sales; (iii) the strength of the Company’s product development pipeline; (iv) the Company’s growth and profitability prospects; (v) the estimated size and growth prospects of the ECM market; (vi) the Company’s competitive position in the ECM market and its ability to take advantage of future opportunities in this market; (vii) the benefits of the Company’s products to be realized by customers; and (viii) the demand for the Company’s product and the extent of deployment of the Company’s products in the ECM marketplace. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. The risks and uncertainties that may affect forward-looking statements include, but are not limited to: (i) integration of acquisitions and related restructuring efforts, including the quantum of restructuring charges and the timing thereof; (ii) the possibility that the Company may be unable to meet its future reporting requirements under the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder; (iii) the risks associated with bringing new products to market; (iv) fluctuations in currency exchange rates; (v) delays in the purchasing decisions of the Company’s customers; (vi) the competition the Company faces in its industry and/or marketplace; (vii) the possibility of technical, logistical or planning issues in connection with the deployment of the Company’s products or services; (viii) the continuous commitment of the Company’s customers; (ix) demand for the Company’s products; and (x) other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K for the year ended June 30, 2006. Forward-looking statements are based on management’s beliefs and opinions at the time the statements are made, and the Company does not undertake any obligation to update forward-looking statements should circumstances or management’s beliefs or opinions change.

Notes

(1) Based on comparison of historic revenue figures publicly disseminated by companies in the Enterprise Content Management (“ECM”) sector. All dollar amounts in this press release are in US Dollars unless otherwise indicated.

(2) In addition to these GAAP and adjusted results the Company has provided financial information that adds-back maintenance revenue eliminated due to the impact of purchase accounting entries on deferred revenue and the impact of interest expense. Management believes that the furnishing of these adjustments provide a consistent basis for comparison between quarters and help to more accurately reflect Open Text’s underlying operating results.

	Three months ended June 30, 2007
GAAP Revenue	$	175.2
Maintenance revenue adjustment for purchase accounting		2.5
Non-GAAP revenue	$	177.7
Adjusted Income	$	26.6
Maintenance revenue adjustment for purchase accounting		2.5
Net Interest Expense		5.6
Income tax effect		(2.6	)
Non-GAAP net income	$	32.1
Adjusted EPS Diluted		0.52
Non GAAP Adjustments (net of tax) —Maintenance —Interest		0.03 0.08
Non-GAAP EPS	$	0.63
	Twelve months ended June 30, 2007
GAAP Revenue	$	595.7
Maintenance revenue adjustment for purchase accounting		11.1
Non-GAAP revenue	$	606.8
Adjusted Income	$	74.3
Maintenance revenue adjustment for purchase accounting		11.1
Net Interest Expense		20.3
Income tax effect		(10.0	)
Non-GAAP net income	$	95.7
Adjusted EPS Diluted	$	1.46
Non GAAP Adjustments (net of tax) —Maintenance —Interest		0.15 0.27
Non-GAAP EPS	$	1.88

(3) Use of US Non-GAAP financial measures

In addition to reporting financial results in accordance with US GAAP, the Company provides certain non-US GAAP financial measures that are not in accordance with US GAAP. These non-US GAAP financial measures have certain limitations in that they do not have a standardized meaning and thus the Company’s definition may be different from similar non-US GAAP financial measures used by other companies and/or analysts and may differ from period to period. Thus it may be more difficult to compare the Company’s financial performance to that of other companies. However, the Company’s management compensates for these limitations by providing the relevant disclosure of the items excluded in the calculation of adjusted net income and adjusted EPS both in its reconciliation to the US GAAP financial measures of net income and EPS and its consolidated financial statements, all of which should be considered when evaluating the Company’s results. The Company uses the financial measures adjusted EPS and adjusted net income to supplement the information provided in its consolidated financial statements, which are presented in accordance with US GAAP. The presentation of adjusted net income and adjusted EPS is not meant to be a substitute for net income or net income per share presented in accordance with US GAAP, but rather should be evaluated in conjunction with and as a supplement to such US GAAP measures. Open Text strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure. The Company therefore believes that despite these limitations, it is appropriate to supplement the disclosure of the US GAAP measures with certain non-US GAAP measures for the reasons set forth below. Adjusted net income and adjusted EPS are calculated as net income or net income per share on a diluted basis, excluding, where applicable, the amortization of acquired intangible assets, other income (loss), share-based compensation, and restructuring, all net of tax. The Company’s management believes that the presentation of adjusted net income and adjusted EPS provides useful information to investors because it excludes non-operational charges. The use of the term “non-operational charge” is defined by the Company as those that do not impact operating decisions taken by the Company’s management and is based upon the way the Company’s management evaluates the performance of the Company’s business for use in the Company’s internal reports. In the course of such evaluation and for the purpose of making operating decisions, the Company’s management excludes certain items from its analysis, such as amortization of acquired intangibles, restructuring costs, other income/expense and the taxation impact of these items. These items are excluded based upon the manner in which management evaluates the business of the Company and are not excluded in the sense that they may be used under US GAAP. The Company believes the provision of supplemental non-US GAAP measures allows investors to evaluate the operational and financial performance of the Company’s core business using the same evaluation measures that management uses, and is therefore a useful indication of Open Text’s performance or expected performance of recurring operations and facilitates period-to-period comparison of operating performance. As a result, the Company considers it appropriate and reasonable to provide, in addition to US GAAP measures, supplementary non-US GAAP financial measures that exclude certain items from the presentation of its financial results in this press release. The following charts provide reconciliation (unaudited) of US GAAP based financial measures to non-US GAAP based financial measures referred to in this press release:

Reconciliation (unaudited) of US GAAP based Net Income to Adjusted Net Income (in millions of US dollars) for the quarters ended June 30, 2007 and 2006:

	Three months ended June 30, 2007			Three months ended June 30, 2006
GAAP based “Net Income”	$	8.2		$	7.8
Special Charges/(recovery)		7.7			(0.2	)
Amortization of intangibles		18.0			7.3
Other (Income)/Expense		(1.1	)		1.5
Share-based compensation		1.5			1.3
Tax Impact on Above		(7.7	)		(2.3	)
Non-GAAP based “Adjusted Net Income”	$	26.6		$	15.4

Reconciliation (unaudited) of US GAAP based EPS to non-US GAAP based EPS (calculated on a diluted basis) for the quarters ended June 30, 2007 and 2006:

	Three months ended June 30, 2007			Three months ended June 30, 2006
GAAP based “Net Income”	$	0.16		$	0.16
Special Charges/(recovery)		0.15			0.00
Amortization of intangibles		0.35			0.14
Other (Income)/Expense		(0.02	)		0.03
Share-based compensation		0.03			0.03
Tax Impact on Above		(0.15	)		(0.05	)
Non-GAAP based “Adjusted Net Income”	$	0.52		$	0.31

Reconciliation (unaudited) of US GAAP based Net Income to Adjusted Net Income (in millions of US dollars) for the fiscal years ended June 30, 2007 and 2006:

	Twelve months ended June 30, 2007			Twelve months ended June 30, 2006
GAAP based “Net Income”	$	21.7		$	5.0
Special Charges/(recovery)		12.9			26.2
Amortization of intangibles		60.8			28.1
Other (Income)/Expense		(1.7	)		4.8
Share-based compensation		5.4			5.2
Tax Impact on Above		(24.8	)		(18.5	)
Non-GAAP based “Adjusted Net Income”	$	74.3		$	50.8

Reconciliation (unaudited) of US GAAP based EPS to non-US GAAP based EPS (calculated on a diluted basis) for the fiscal years ended June 30, 2007 and 2006:

	Twelve months ended June 30, 2007			Twelve months ended June 30, 2006
GAAP based “Net Income”	$	0.43		$	0.10
Special Charges/(recovery)		0.25			0.52
Amortization of intangibles		1.19			0.56
Other (Income)/Expense		(0.03	)		0.10
Share-based compensation		0.11			0.10
Tax Impact on Above		(0.49	)		(0.37	)
Non-GAAP based “Adjusted Net Income”	$	1.46		$	1.01

For more information, please contact:

Paul McFeeters

Chief Financial Officer

Open Text Corporation

+1-905-762-6121

pmcfeeters@opentext.com

Greg Secord

Director, Investor Relations

Open Text Corporation

+1-519-888-7111 ext.2408

gsecord@opentext.com

OPEN TEXT CORPORATION

CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. Dollars, except share data)

	June 30,
	2007			2006
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	149,979		$	107,354
Accounts receivable trade, net of allowance for doubtful accounts of $2,089 as of June 30, 2007 and $2,736 as of June 30, 2006		128,781			75,016
Income taxes recoverable		—			12,473
Prepaid expenses and other current assets		10,368			7,879
Deferred tax assets		25,743			28,724
Total current assets		314,871			231,446
Investments in marketable securities		—			21,025
Capital assets		43,614			41,262
Goodwill		534,635			235,523
Acquired intangible assets		343,324			102,326
Deferred tax assets		56,893			37,185
Other assets		9,524			2,326
	$	1,302,861		$	671,093
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	100,211		$	62,535
Current portion of long-term debt		4,048			405
Deferred revenues		143,097			74,687
Income taxes payable		10,663			—
Deferred tax liabilities		6,761			12,183
Total current liabilities		264,780			149,810
Long-term liabilities:
Accrued liabilities		22,516			21,121
Long-term debt		366,765			12,963
Deferred revenues		3,840			3,534
Deferred tax liabilities		116,405			19,490
Total long-term liabilities		509,526			57,108
Minority interest		6,975			5,804
Shareholders’ equity:
Share capital
50,180,118 and 48,935,042 Common Shares issued and outstanding at June 30, 2007 and June 30, 2006, respectively; Authorized Common Shares: unlimited		426,188			414,475
Additional paid-in capital		35,311			28,367
Accumulated other comprehensive income		65,546			42,654
Accumulated deficit		(5,465	)		(27,125	)
Total shareholders’ equity		521,580			458,371
	$	1,302,861		$	671,093

OPEN TEXT CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(In thousands of U.S. Dollars, except share and per share data)

	Year ended June 30,
	2007			2006			2005
	(unaudited)
Revenues:
License	$	182,507		$	122,520		$	136,522
Customer support		287,570			183,878			179,178
Service		125,587			103,164			99,128
Total revenues		595,664			409,562			414,828
Cost of revenues:
License		13,652			11,196			11,540
Customer support		46,177			28,908			33,086
Service		105,517			83,469			81,367
Amortization of acquired technology intangible assets		36,206			18,900			16,175
Total cost of revenues		201,552			142,473			142,168
		394,112			267,089			272,660
Operating expenses:
Research and development		79,063			58,469			65,139
Sales and marketing		150,643			104,225			114,553
General and administrative		62,140			44,960			46,110
Depreciation		13,846			11,103			11,040
Amortization of acquired intangible assets		24,586			9,199			8,234
Special charges (recoveries)		12,908			26,182			(1,724	)
Total operating expenses		343,186			254,138			243,352
Income from operations		50,926			12,951			29,308
Other income (expense)		1,742			(4,788	)		(3,116	)
Interest income (expense), net		(20,282	)		1,487			1,377
Income before income taxes		32,386			9,650			27,569
Provision for income taxes		10,334			4,093			6,958
Net income before minority interest		22,052			5,557			20,611
Minority interest		392			579			252
Net income for the year	$	21,660		$	4,978		$	20,359
Net income per share—basic	$	0.44		$	0.10		$	0.41
Net income per share—diluted	$	0.43		$	0.10		$	0.39
Weighted average number of Common Shares outstanding—basic		49,392,845			48,666,139			49,918,541
Weighted average number of Common Shares outstanding—diluted		50,907,897			49,949,593			52,091,860

OPEN TEXT CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(In thousands of U.S. Dollars, except share and per share data)

	Three months ended June 30,
	2007			2006
	(unaudited)
Revenues:
License	$	59,225		$	32,031
Customer support		82,218			47,222
Service		33,753			25,982
Total revenues		175,196			105,235
Cost of revenues:
License		4,015			3,097
Customer support		14,356			7,313
Service		28,505			21,621
Amortization of acquired technology intangible assets		10,531			4,887
Total cost of revenues		57,407			36,918
		117,789			68,317
Operating expenses:
Research and development		21,113			13,645
Sales and marketing		43,193			25,663
General and administrative		18,452			11,662
Depreciation		3,321			3,069
Amortization of acquired intangible assets		7,439			2,374
Special charges (recoveries)		7,655			(165	)
Total operating expenses		101,173			56,248
Income from operations		16,616			12,069
Other income (expense)		1,138			(1,470	)
Interest income (expense), net		(5,612	)		486
Income before income taxes		12,142			11,085
Provision for income taxes		3,913			3,165
Net income before minority interest		8,229			7,920
Minority interest		—			117
Net income for the year	$	8,229		$	7,803
Net income per share—basic	$	0.16		$	0.16
Net income per share—diluted	$	0.16		$	0.16
Weighted average number of Common Shares outstanding—basic		49,963,876			48,895,966
Weighted average number of Common Shares outstanding—diluted		51,571,062			50,178,906

OPEN TEXT CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands of U.S. Dollars)

	Year ended June 30,
	2007			2006			2005
	(unaudited)
Cash flows from operating activities:
Net income for the year	$	21,660		$	4,978		$	20,359
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		74,638			39,202			35,449
Share-based compensation expense		5,376			5,196			—
Undistributed earnings related to minority interest		392			579			252
Amortization of debt issuance costs		805			—			—
Unrealized (gain) loss on financial instruments		(380	)		—			—
Deferred taxes		(16,660	)		(4,314	)		(1,168	)
Impairment of capital assets		—			3,819			—
Impairment of intangible assets		697			1,046			—
Changes in operating assets and liabilities:
Accounts receivable		11,841			9,406			6,452
Prepaid expenses and other current assets		1,485			(65	)		(1,327	)
Income taxes		(14,289	)		(3,818	)		(3,902	)
Accounts payable and accrued liabilities		6,780			(3,204	)		(4,489	)
Deferred revenue		14,603			5,228			7,224
Other assets		3,916			2,745			(1,586	)
Net cash provided by operating activities		110,864			60,798			57,264
Cash flows from investing activities:
Acquisition of capital assets		(5,260	)		(19,278	)		(17,909	)
Purchase of Optura, net of cash acquired		—			—			(3,347	)
Purchase of Vista, net of cash acquired		—			—			(23,690	)
Purchase of Artesia, net of cash acquired		—			—			(4,475	)
Purchase of IXOS, net of cash acquired		(1,427	)		(5,126	)		(13,779	)
Purchase of Hummingbird, net of cash acquired		(384,761	)		—			—
Purchase of Momentum, net of cash acquired		(4,076	)		—			—
Additional purchase consideration for prior period acquisitions		(856	)		(3,284	)		(1,669	)
Investments in marketable securities		(829	)		(20,241	)		—
Acquisition related costs		(39,061	)		(6,798	)		(12,514	)
Net cash used in investment activities		(436,270	)		(54,727	)		(77,383	)
Cash flow from financing activities:
Payment of obligations under capital leases		—			—			(68	)
Excess tax benefits on share-based compensation expense		1,285			865			—
Repurchase of Common Shares		—			—			(63,835	)
Proceeds from issuance of Common Shares		11,734			4,569			6,399
Proceeds from exercise of warrants		—			—			773
Proceeds from long-term debt		390,000			12,928			—
Repayment of short-term bank loan		—			—			(2,189	)
Repayment of long-term debt		(33,247	)		(160	)		—
Debt issuance costs		(7,433	)		—			—
Net cash provided by (used in) financing activities		362,339			18,202			(58,920	)
Foreign exchange gain on cash held in foreign currencies		5,692			3,183			1,950
Increase (decrease) in cash and cash equivalents during the year		42,625			27,456			(77,089	)
Cash and cash equivalents at beginning of the year		107,354			79,898			156,987
Cash and cash equivalents at end of the year	$	149,979		$	107,354		$	79,898

OPEN TEXT CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands of U.S. Dollars)

	Three months ended June 30,
	2007			2006
	(unaudited)
Cash flows from operating activities:
Net income for the year	$	8,229		$	7,803
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		21,291			10,330
Share-based compensation expense		1,515			1,310
Undistributed earnings related to minority interest		—			117
Amortization of debt issuance costs		274			—
Unrealized (gain) loss on financial instruments		(956	)		—
Deferred taxes		6,534			(541	)
Impairment of capital assets		—			2
Impairment of intangible assets		697			1,046
Changes in operating assets and liabilities:
Accounts receivable		(15,206	)		580
Prepaid expenses and other current assets		803			484
Income taxes		(10,908	)		(1,995	)
Accounts payable and accrued liabilities		16,470			(1,904	)
Deferred revenue		(286	)		(2,122	)
Other assets					317
Net cash provided by operating activities		28,457			15,427
Cash flows from investing activities:
Acquisition of capital assets		(640	)		(2,452	)
Purchase of IXOS, net of cash acquired		(341	)		(475	)
Additional purchase consideration for prior period acquisitions		—			85
Investments in marketable securities		—			(20,241	)
Acquisition related costs		(10,812	)		(3,204	)
Net cash used in investment activities		(11,793	)		(26,287	)
Cash flow from financing activities:
Excess tax benefits on share-based compensation expense		163			62
Proceeds from issuance of Common Shares		2,905			1,117
Repayment of long-term debt		(31,003	)		(99	)
Net cash provided by (used in) financing activities		(27,935	)		1,080
Foreign exchange gain on cash held in foreign currencies		1,567			3,646
Decrease in cash and cash equivalents during the period		(9,704	)		(6,134	)
Cash and cash equivalents at beginning of the period		159,683			113,488
Cash and cash equivalents at end of the period	$	149,979		$	107,354