WATERLOO, ONTARIO--(Marketwire - April 20, 2012) - The Honourable Gary Goodyear, Minister of State for Science and Technology and for the Federal Economic Development Agency for Southern Ontario, was at OpenText Corporation's headquarters today to deliver congratulatory remarks at the company's 20th anniversary celebration.
"OpenText has been a shining example of Canadian innovation for 20 years, not only investing in its future by funding research and developing new products but also serving as an inspiration to companies throughout Canada," said Minister of State Goodyear. "Economic Action Plan 2012 builds on our positive record of achievement to help further unleash the potential of Canadian businesses and entrepreneurs to innovate and thrive in the modern economy."
More than 20 years ago, a University of Waterloo project to create an electronic version of the Oxford English Dictionary led to the development of one of the world's first search engines. That technology became the basis for OpenText Corporation, which has since grown to become Canada's largest software company and a world-leading content management firm. In the last fiscal year, the company's revenues topped $1 billion.
During his congratulatory remarks, the Minister of State emphasized that Canada's long-term economic competitiveness depends on supporting businesses that innovate and create jobs. By focusing on the drivers of growth and job creation-innovation, investment, education, skills and communities-the new measures in Economic Action Plan 2012 will solidify, strengthen and draw upon the entrepreneurial sector's role as the fundamental force behind Canada's economy.
For more information on Economic Action Plan 2012, visit the Budget 2012 website (www.budget.gc.ca).