NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
More news: Software
Agency / Source: Actuate Corporation | OpenText™

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

OpenText Completes Divestiture of Application Modernization and Connectivity (AMC) Business to Rocket Software for $2.275B - OpenText to Reduce Debt by $2 Billion - RocketSoftware.com / OpenText.com
OpenText Completes Divestiture of Application Modernization and Connectivity (AMC) Business to Rocket Software for $2.275B

 

NewswireTODAY - /newswire/ - Waterloo, Ontario, Canada, 2024/05/01 - OpenText to Reduce Debt by $2 Billion - RocketSoftware.com / OpenText.com. NASDAQ: OTEX, TSX: OTEX

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

OpenText™ Corporation, 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 & CTO. “We intend to use the net proceeds from the divestiture to reduce our debt by $2 billion and lower our net leverage ratio to under 3x. Further, the divestiture allows the company to focus on the future of Information Management, which is innovation and growth in the Cloud, Security, and AI markets and the opportunity to expand our capital allocation program for shareholders.”

Additional details on the impact of the divestiture to the remainder of Fiscal 2024 will be outlined as part of the Company’s quarterly earnings results scheduled for May 2, 2024.

About OpenText

OpenText (opentext.com), The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions.

Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website (investors.opentext.com). Such social media channels may include the Company's or our CEO's blog, X, formerly known as Twitter, account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.

Note: All dollar amounts in this press release are in U.S. dollars unless otherwise indicated.

OTEX-MNA

For more information, please contact: Harry E. Blount - Senior Vice President, Global Head of Investor Relations, Open Text Corporation
P: 415-963-0825 - E: investors[.]opentext.com.

Copyright ©2024 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved. For more information visit: opentext.com/who-we-are/copyright-information.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Actuate Corporation | OpenText™

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
Software Warnings - IMPORTANT:
Always be aware/cautious about what you download on your computer/mobile! PURCHASE SOFTWARE related keywords / Banner Ads. Click HERE for details!
.

 
  Your Banner Ad showing on ALL
Software articles,
CATCH Visitors via Your Competitors Announcements!


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

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
Rocket Software, Inc. | OpenText
Contact: Press Office - OpenText.com 
519-888-7111 publicrelations[.]opentext.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Actuate Corporation | OpenText™ securities in any jurisdiction including any other companies listed or named in this release.

Software via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Actuate Corporation | OpenText™ / Company Profile


Read Software Most Recent Related Newswires:

Yardi Announces RentCafe and LCP Media Integration
Yardi Debuts New AI Technology At Apartmentalize
Panasonic Information Systems Selects Oracle Cloud Infrastructure to Drive Modernization of Internal Systems Across the Group
Oracle Payment Cloud Service Now Available in the UK
Siemens Collaborates with Samsung Foundry to Expand 3D-IC Enablement Tools, Optimize Other EDA Solutions for Foundry’s Newest Processes
Safran Expands Asterios, its Development Tool for Critical Embedded Software
Blue Yonder Named Snowflake Retail & Consumer Goods Data Cloud Product Partner of the Year Award Winner
Cornerstone Partners with Udacity, Expanding Access to Expertly Curated Learning Content
Siemens and KU Leuven Collaborate to Research Digital Twin for Smart and Sustainable Products
Manx Telecom Partners with Cornerstone to Grow Skills and Nurture Leaders
SAP Enters into Agreement to Acquire WalkMe, Driving Business Transformation by Enhancing the Customer Experience and Enriching SAP Business AI Offeri
Siemens Brings Formal Methods to High-level Verification with C++ Coverage Closure and Property Checking
Oracle Health RevElate Patient Accounting Drives Faster, More Accurate Reimbursements
REACH by RentCafe Wins Platinum, Gold in 2024 Hermes Creative Awards
Yardi Introduces Enhanced CRM Solution for Senior Living

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  Limelon Advertising, Co.





 
  ©2005-2024 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)