DivestmentMay 11, 2026, 09:07 AM
OpenText Completes $150M Divestiture of Vertica
AI Summary
OpenText Corporation announced the successful completion of the divestiture of Vertica, a non-core Analytics portfolio asset, to Rocket Software Inc. for US$150 million in cash. This transaction aligns with OpenText's strategy to divest non-core assets and optimize capital allocation, allowing the company to focus investments on its core businesses. The net proceeds from the sale are intended to be used for debt reduction.
Key Highlights
- OpenText completed the divestiture of Vertica to Rocket Software Inc.
- The transaction was for US$150 million in cash before taxes, fees, and adjustments.
- Vertica was a part of OpenText's non-core Analytics portfolio.
- The divestiture aligns with OpenText's strategy to focus on core businesses and optimize capital allocation.
- OpenText intends to use the net proceeds from the sale to reduce outstanding debt.
- Software, client contracts, associated services, and employees were transferred to Rocket Software.