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OpenText to Divest Application Modernization and Connectivity (AMC) Business to Rocket Software for $2.275B

Newswire.ca - Tue Nov 28, 2023

OpenText to Focus on Cloud and AI Opportunity Within Information Management

WATERLOO, ON, Nov. 28, 2023 /CNW/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced that it has reached a definitive agreement to divest its AMC business to Rocket Software, Inc., a Bain Capital portfolio company ("Rocket Software"), for US$2.275 billion in cash. OpenText's AMC business provides market leading mainframe modernization and connectivity software to more than 10,000 customers enabling them to run mission-critical business applications in hybrid cloud environments. Benefits of the transaction include:

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