Rocket Software, a global technology leader in modernization software, announced the closing of the acquisition of the Application Modernization and Connectivity (AMC) business of OpenText (formerly part of Micro Focus). Rocket Software now offers customers modernization software solutions spanning the mainframe to the cloud. With a total purchase price of $2.275 billion (before taxes, fees, and other adjustments), the deal increases the company’s revenue by over 60% and expands its customer base to 12,500+ companies and network to 750+ partners worldwide.
The company also welcomes 770+ new software engineers, go-to-market professionals, and other supporting team members. It is hiring hundreds of additional Rocketeers to complement its existing team.
Rocket Software will integrate and continue developing AMC products to enhance its portfolio, helping customers stay competitive and leverage their data, applications, and infrastructure regardless of their modernization strategy. Along with several complementary Host Connectivity, Application Development, and CORBA solutions, Rocket Software will also offer COBOL and Enterprise Suite, market-leading technologies that enable companies to run COBOL and PL/I applications on distributed or cloud servers.
These capabilities expand the mainframe modernization approaches that Rocket Software can deliver, enabling choice and allowing customers to run workloads wherever it makes sense for their business. And this breadth and the ability to integrate the various approaches, enables customers to connect any combination of solutions across the modernization continuum seamlessly.
KEY QUOTES:
“Rocket Software’s customers are global market leaders that are constantly setting new benchmarks for excellence and innovation in their industries that we are proud to power and advance. The acquisition of the OpenText AMC business is a significant milestone that sets a similar new standard for modernization innovation and excellence at Rocket Software and greatly accelerates our strategic growth and market penetration. We now have the solutions, resources and expertise to tackle modernization challenges at scale, and the continued flexibility, winning culture, proven partnerships and growth mindset necessary to help our customers win today and well into the future.”
- Milan Shetti, president and CEO of Rocket Software
“The combination of OpenText’s AMC business and Rocket Software’s highly complementary businesses will create one of the world’s largest mainframe modernization and connectivity software companies. While many in the industry would champion moving everything to the cloud, or never moving anything off the mainframe, this investment shows Rocket Software’s commitment to meeting clients wherever they are in their modernization journey. Now Rocket Software will have a comprehensive portfolio that allows clients to modernize their workloads in place, move applications to the cloud or a combination of both through a hybrid strategy, which we see most enterprises prefer.”
- Peter Rutten, Research Vice-President, Performance Intensive Computing, IDC
“Application modernization is key to digital transformation in financial services. As a Rocket Software customer, we’ve experienced firsthand the company’s commitment to innovation.”
- Martin Wildberger, EVP, Innovation & Technology, RBC
“Within our organization, the need for modernization is a dynamic process, continually evolving as we grow and scale our business. The OpenText AMC solutions have served us well and, now as part of Rocket Software, we look forward to exploring new opportunities for our data, application and infrastructure that propels us into the future.”
- José Fortemps, CTO, AG Insurance
