OpenText Completes Divestiture of Application Modernization and Connectivity (AMC) Business to Rocket Software for $2.275B
OTEXOpenText(OTEX) Prnewswire·2024-05-01 22:20

OpenText to Reduce Debt by 2BillionWATERLOO,ON,May1,2024/PRNewswire/−−OpenTextCorporation(NASDAQ:OTEX),(TSX:OTEX),todayannouncedthatithassuccessfullycompletedthedivestitureofitsAMC/MainframebusinesstoRocketSoftware,Inc.,aBainCapitalportfoliocompany("RocketSoftware"),for2 Billion WATERLOO, ON, May 1, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced that it has successfully completed the divestiture of its AMC/Mainframe business to Rocket Software, Inc., a Bain Capital portfolio company ("Rocket Software"), for 2.275 billion in cash before taxes, fees and other adjustments. "We are pleased to complete the divestiture of our AMC/Mainframe business to Rocket Software," said Mark J. Barrenechea, OpenText CEO & ...