OpenText has agreed to divest Vertica, part of its non-core Analytics portfolio, to Rocket Software for $150 million in cash, before taxes, fees, and other adjustments. The transaction is structured as a definitive agreement and is expected to close during OpenText’s fiscal year 2026, subject to customary approvals and closing conditions.
The sale reflects OpenText’s continued effort to streamline its portfolio around core cloud products and its positioning in secure information management for enterprise AI. OpenText said the divestiture aligns with its strategic plan to focus on core product offerings and cloud solutions that give customers choice and flexibility, while reinforcing its capital allocation framework.
Vertica sits within OpenText’s Analytics product group and contributed approximately US$80 million in annual revenue in OpenText’s fiscal year ended June 30, 2025. OpenText stated it intends to use proceeds from the sale to reduce outstanding debt, underscoring a deleveraging objective alongside portfolio rationalization.
As part of the transaction, the Vertica software, customer contracts, associated services, and employees will transfer to Rocket Software, a Bain Capital portfolio company. OpenText said it expects to work closely with Rocket Software to support customers and facilitate a smooth transition following the close.
Support: Goldman Sachs & Co. LLC is serving as financial advisor to OpenText.
KEY QUOTES
“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. 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.”
P. Thomas Jenkins, Executive Chairman of the Board and Chief Strategy Officer, OpenText
“I want to recognize the dedication of our teams and thank our customers and partners for their continued trust. 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.”
James McGourlay, Interim Chief Executive Officer, OpenText
