OpenText to Continue Focusing on Core Cloud Products for Secure, Trusted Data for Enterprise AIÂ
Open Text Corporation, a global leader in secure information management for AI, announced that it has reached a definitive agreement to divest Vertica, a part of its non-core Analytics portfolio, to Rocket Software Inc., a Bain Capital portfolio company (“Rocket Software”) for US$150 million in cash, before taxes, fees and other adjustments.
“We are executing on our strategic plan, focusing on our core product offerings, our expertise in secure data for Enterprise AI, and cloud solutions that provide strategic choice and flexibility for our customers,” said P. Thomas Jenkins, OpenText Executive Chairman of the Board and Chief Strategy Officer. “By rationalizing non-core assets, we are strengthening the portfolio, reinforcing our capital allocation framework, and positioning OpenText to accelerate long-term growth and shareholder value.”
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Vertica is part of OpenText’s Analytics product group. In OpenText’s fiscal year ended June 30, 2025, Vertica contributed approximately US$80 million in annual revenue. OpenText intends to use the proceeds from the sale of Vertica to reduce its outstanding debt.
“I want to recognize the dedication of our teams and thank our customers and partners for their continued trust,” said James McGourlay, OpenText Interim Chief Executive Officer. “We believe this transaction places the Vertica solution with a strong, committed steward, and we look forward to working closely with Rocket Software to support customers and ensure a smooth, thoughtful transition.”
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Under the terms of the agreement, the software, customer contracts, and associated services and employees will be transferred to Rocket Software. The transaction is expected to close during fiscal year 2026, subject to customary approvals and closing conditions.
Goldman Sachs & Co. LLC is serving as financial advisor to OpenText.
