OpenText Sheds Another Asset in AI Pivot
OpenText has agreed to sell its Vertica analytics database platform to Rocket Software for $ US 150 million cash, marking the Canadian software giant’s second major divestiture to the same buyer in less than two years.
The transaction, subject to regulatory approval, is expected to close during OpenText’s fiscal year 2026. OpenText said it intends to use proceeds to reduce outstanding debt.
The company’s total debt load following its 2023 acquisition of Micro Focus for approximately $US6 billion has been a recurring concern for investors.
Vertica is a high-performance, enterprise-grade analytics database designed to handle petabyte-scale data workloads at speed. Unlike conventional transactional databases, Vertica uses columnar storage - organising data by column rather than row - enabling significantly faster analytical queries across large datasets.
It supports massively parallel processing, distributing queries across multiple servers simultaneously, and allows data scientists to run machine-learning models directly inside the database without moving data to external tools.
Under the agreement, Vertica’s software, customer contracts, associated services and employees will transfer to Rocket Software, a portfolio company of private equity firm Bain Capital.
The deal follows OpenText’s US$2.275 billion divestiture of its Application Modernisation and Connectivity (AMC) mainframe business to Rocket Software, completed in May 2024.
OpenText also sold its on-premises eDOCS document management solution to NetDocuments for $ US 163 million in January 2026.
Rocket Software, which describes itself as a global leader in modernisation software, has been building an expanding portfolio of enterprise software assets.
Its acquisition of the OpenText AMC business increased the company’s revenue by more than 60 per cent and expanded its customer base to more than 12,500 organisations.
https://www.rocketsoftware.com