GXS (OpenText GXS) is a subsidiary of OpenText Corporation headquartered in Gaithersburg, Maryland, United States. Its GXS Trading Grid managed more than twelve billion transactions[clarification needed] in 2011. Since 2004, GXS has invested more than $250 million in GXS Trading Grid. As of March 16, 2012, more than 550,000 businesses connect to GXS Trading Grid and, on average, more than 2,000 new businesses join each month. As of December 31, 2011, 58.5% of GXS revenues come from the U.S. and 41.5% of GXS revenues are earned outside of the United States and are managed by regional headquarters in Hong Kong, London, São Paulo and Tokyo. On November 5, 2013, OpenText Corporation in Waterloo, Canada, announced their acquisition of GXS.