M&A Deal Summary

Rocket Software Acquires OpenText - Application Modernization & Connectivity Business

On May 1, 2024, Rocket Software acquired software company OpenText - Application Modernization & Connectivity Business from OpenText for 2.3B USD

Acquisition Highlights
  • This is Rocket Software’s 12th transaction in the Software sector.
  • This is Rocket Software’s largest (disclosed) transaction.
  • This is Rocket Software’s 1st transaction in Canada.
  • This is Rocket Software’s 1st transaction in Ontario.

M&A Deal Summary
Date 2024-05-01
Target OpenText - Application Modernization & Connectivity Business
Sector Software
Buyer(s) Rocket Software
Sellers(s) OpenText
Deal Type Divestiture
Deal Value 2.3B USD

Target

OpenText - Application Modernization & Connectivity Business

Ontario, Canada
OpenText's Application Modernization & Connectivity Business provides customers with modernization software solutions spanning the mainframe to the cloud.

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Buyer(S) 1

Buyer

Rocket Software

Waltham, Massachusetts, United States
Category Company
Founded 1990
Sector Software
DESCRIPTION

Rocket Software is a global software development firm that builds and services Enterprise Infrastructure products for the world’s leading OEMs, networks and software companies and enterprises. Rocket Software’s solutions make it easier to unlock the business logic and data inside host-based systems to help speed digital transformation projects and help companies compete more effectively. IT departments streamline their daily operations using the automation and optimization capabilities offered by Rocket Software to get more out of existing resources and free staff to focus on efforts that drive new revenue. Rocket Software was founded in 1990 and is based in Waltham, Massachusetts.

DEAL STATS #
Overall 16 of 16
Sector (Software) 12 of 12
Type (Divestiture) 4 of 4
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 B.O.S.

Munich, Germany

B.O.S. is a provider of data integration solutions. B.O.S. drives innovation with integration technology for heterogeneous environments powered by mainframe architecture. The company helps enterprise customers and government agencies create synergies between their mainframe and emerging technologies like Cloud and Big Data. B.O.S. is based in Munich, Germany.

Buy -

Seller(S) 1

SELLER

OpenText

Waterloo, Ontario, Canada
Category Company
Founded 1991
Sector Software
Employees23,700
Revenue 4.5B USD (2023)
DESCRIPTION

OpenText is an independent software provider of enterprise information management (EIM). Open Text was founded in 1991 and is based in Waterloo, Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-23 KineMatik

Cork, Ireland

KineMatik provides workflow automation, document change control, project management and electronic lab notebook (ELN) solutions built on Opentext's content server. KineMatik was founded in 1999 and is based in Cork, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-24 Pillr

Wichita, Kansas, United States

Pillr offers SOC-as-a-Service (SOCaaS) to address the critical gaps left by standard EDR tools. Pillr was founed in 2018 and is based in Wichita, Kansas.

Buy -
Mergr

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