OPEN TEXT CORP

Open Text Corporation announced the appointment of Jill Larsen to its Board of Directors, effective immediately. Ms. Larsen, currently Chief People Officer at Synopsys, Inc., brings extensive experience in human resources and organizational strategy from various global technology companies. Concurrently, Kristen Ludgate resigned from the Board for personal reasons, with the company stating no disagreement regarding operations or policies.

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.

OpenText reported strong financial results for the third quarter and nine months ended March 31, 2026, with significant increases in net income and diluted EPS. The company's total revenues and cloud services and subscriptions revenue also saw growth. Additionally, OpenText is progressing with the divestiture of its Vertica business, reclassifying related assets and liabilities as held for sale and recognizing a substantial gain from the divestiture.

Open Text Corporation reported its financial results for the third quarter ended March 31, 2026, with total revenues of $1.28 billion, a 2.2% increase year-over-year. Cloud revenues grew by 6.6% year-over-year to $493 million, marking 21 consecutive quarters of cloud organic growth. The company also declared a quarterly cash dividend of $0.275 per common share and highlighted strong profitability and capital returns, including $247 million in share repurchases. Ayman Antoun officially joined as CEO on April 20, 2026.