OpenText has inked its second business unit sale within five months, this time selling off its analytics business Vertica to US-based Rocket Software for $150 million USD ($205 million CAD) in cash.
The sale process is part of what the company calls a focus on its core business: information management for AI.
OpenText provides a suite of cloud-based information management solutions to businesses. Vertica is one of those products, capable of analyzing “petabyte-scale” datasets in seconds, according to the company. The Kitchener-Waterloo-based company said that Vertica brought in approximately $80 million USD in annual revenue in its last fiscal year, which ended June 30, 2025. OpenText said it intends to use the proceeds from the sale of Vertica to reduce its outstanding debt.
Under the sale agreement, Rocket Software will acquire Vertica and its associated software, customer contracts, services, and employees. BetaKit has asked OpenText for details on the number of impacted workers.
The sale follows OpenText closing a deal to sell its eDOCS business to Utah-based NetDocuments for $163 million USD ($227 million CAD) in cash last month. Just like Vertica, the proceeds were used to pay down debt.
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Founded in 1991, OpenText competes with the likes of IBM, Abbyy, and Hyland. The company has adapted over the years to introduce cloud and AI services, including cybersecurity and AI agents.
OpenText began exploring the sale of its “non-core assets,” like eDOCS and Vertica, after it let go of its long-time leader Mark Barrenechea in August. The sale process is part of what the company calls a focus on its core business: information management for AI.
Last week, OpenText announced Barrenechea’s permanent replacement: former IBM Americas president Ayman Antoun. Antoun will assume his new post on April 20, shifting interim CEO James McGourlay to another role in OpenText’s executive leadership.
The Vertica transaction is expected to close during fiscal year 2026, subject to customary approvals and closing conditions.
Feature image courtesy OpenText.