OpenText Completes Major Divesture of Vertica to Focus on Core AI Solutions

OpenText Divests Vertica for $150 Million

OpenText Corporation, a prominent player in secure information management for AI, has officially announced its agreement to sell Vertica to Rocket Software Inc., a company backed by Bain Capital, for a substantial $150 million. This move is part of OpenText's strategic realignment to concentrate on its core products and services.

Founded to provide advanced analytics solutions, Vertica has been an integral part of OpenText's Analytics product group. In the fiscal year ending June 30, 2025, Vertica contributed approximately $80 million to OpenText's annual revenue. However, with a shift towards enhancing secure data management capabilities for enterprise AI, OpenText's leadership has decided to focus resources on core offerings that resonate more closely with their long-term strategy.

P. Thomas Jenkins, the Executive Chairman and Chief Strategy Officer at OpenText, stated, "We are executing on our strategic plan, concentrating on our foundational product offerings while maintaining our expertise in secure data management for Enterprise AI. By streamlining our portfolio and disposing of non-core assets, we reinforce our capital allocation strategy, paving the way for accelerated growth and increased shareholder value."

The decision to offload Vertica comes with the intention of utilizing the proceeds from the sale to pay down existing debts, strengthening OpenText’s financial standing. This divesture is not only a tactical financial maneuver but also signifies OpenText’s commitment to delivering top-tier cloud solutions to its diverse customer base.

James McGourlay, Interim CEO of OpenText, expressed gratitude toward the company's teams, customers, and partners. He acknowledged their critical role in fostering a robust business environment and underscored OpenText’s confidence in Rocket Software as a suitable steward for Vertica’s future. "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 transition."

As per the terms of the deal, software, customer contracts, and associated services, as well as the employees linked with Vertica, will be transferred to Rocket Software. The completion of the transaction is anticipated to occur within the fiscal year 2026, contingent upon customary approvals and conditions.

Advising OpenText on this transaction is Goldman Sachs & Co. LLC, underscoring the importance and complexity of the divestiture process.

Looking Forward

This strategic decision aligns with OpenText’s broader vision of empowering enterprises through secure and comprehensive AI-enabled data solutions. With the focus shifting towards bolstering their core offerings, OpenText aims to negotiate the path forward with heightened agility, enabling them to adapt to the evolving landscape of data management technologies.

As the future unfolds, stakeholders will be watching closely how OpenText's refocused strategy will influence its market position and corporate performance. Emphasizing innovation and secure technology solutions, the company seeks to enhance its portfolio and create long-term value for its clients and shareholders alike.

To learn more about OpenText and its enhanced service offerings, visit OpenText’s Official Website.