OpenText has taken a major step in its strategic transformation by announcing the sale of Vertica for $150 million. This move aims to strengthen OpenText’s focus on its core cloud and AI data solutions. Here’s what this significant decision means for the company, its clients, and the future of enterprise analytics.
OpenText Sells Vertica to Rocket Software for $150 Million
OpenText has reached a definitive agreement to divest Vertica, a non-core analytics business, to Rocket Software. The transaction’s value stands at $150 million in cash, prior to taxes and other adjustments. Vertica reported approximately $80 million in annual revenue for fiscal year 2025. In addition, OpenText will use proceeds from the deal to reduce its outstanding debt. This move is designed to align with the company’s long-term focus on creating value for shareholders.
Refocusing on Core Cloud and AI Data Solutions
By selling Vertica, OpenText can concentrate on its main strengths: secure data management for AI and advanced cloud solutions. The executive team emphasized the strategic importance of cloud offerings that deliver flexibility to customers. This streamlined focus is expected to reinforce OpenText’s position as a leader in enterprise AI and cloud technology. The divestment supports OpenText’s broader efforts to rationalize non-core assets and accelerate growth.
Vertica Transition Details and Future Outlook
The Vertica software, customer contracts, and employees will be transferred to Rocket Software upon completion. All associated services will move over as well, ensuring a smooth handover. The transaction is anticipated to close during fiscal year 2026, subject to routine approvals and closing conditions. OpenText executives expressed confidence in Rocket Software’s stewardship and pledged to work closely together for a seamless transition for clients. This cooperative approach is intended to maintain service continuity and customer trust.
In conclusion, the divestment of Vertica marks a pivotal shift for OpenText, highlighting its dedication to secure cloud and AI data management. By strengthening its core offerings and reducing debt, OpenText is paving the way for accelerated growth and greater value for its stakeholders. The industry will be watching closely as Vertica begins its new chapter under Rocket Software’s leadership.
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