Rocket Software to Acquire OpenText’s Application Modernization and Connectivity Business

Rocket Software(“Rocket Software”), a global technology leader driving modernization for the world’s largest companies announced it has signed a definitive agreement to acquire the Application Modernization and Connectivity business (AMC) of OpenText which was formerly part of Micro Focus. The total purchase price is $2.275B.

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“We are proud to be the preferred partner dedicated to meeting our customers at any point in their modernization journeys and minimizing unnecessary risk to their business operations”

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For decades, Rocket Software has been the partner solving complex IT challenges for the largest and most innovative organizations, across infrastructure, data, and applications. Rocket Software’s hybrid cloud strategy empowers customers to optimize their application portfolio wherever they are in their modernization journey, enabling them to bridge the gap to modern use cases without disrupting their mission-critical operations. This approach allows organizations to benefit from the mainframe’s security and dependability while also taking advantage of powerful analytics tools in the cloud.

AMC has been a leader in application modernization for many years, providing industry-leading tools including COBOL and host connectivity. These tools enable organizations to leverage their core applications and offer flexibility for modernization, allowing them to run applications wherever they choose. With AMC, Rocket Software will have a more diverse modernization portfolio that aligns with customer demands, whether on-premises or through a hybrid cloud strategy.

Rocket Software’s acquisition of AMC achieves five key strategic objectives, including:

• Meeting organizations at any stage of their modernization journeys with a comprehensive product portfolio addressing all use cases, spanning from mainframe to hybrid workloads.
• Enabling customers to derive value from their decades of investment in the core applications that run their business while also innovating and taking full advantage of new applications and technologies.
• Solidifying Rocket Software as a leader in hybrid cloud, deepening current customer relationships and ensuring sustainable growth in the legacy enterprise IT market. The company is positioned not only to address immediate customer needs but also to guide customers through their modernization journey over time.
• Extending and complementing Rocket Software’s industry-leading R&D expertise, fostering continuous innovation through the application of emerging technologies like generative AI.
• Further strengthening Rocket Software’s position as the partner of choice to meet industry and customer needs and deliver superior customer success.

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“We are proud to be the preferred partner dedicated to meeting our customers at any point in their modernization journeys and minimizing unnecessary risk to their business operations,” said Milan Shetti, Rocket Software President and CEO. “For the many enterprise organizations who are built on the mainframe and ready to unlock opportunity using hybrid cloud, reality calls for a continuum with solutions and expertise that span both worlds. Welcoming the AMC business and its talented team to Rocket Software marks an extraordinary moment for the company, the market, and the thousands of organizations who share in our vision of making the best-of-both-worlds a reality.”

By combining Rocket Software’s industry-leading customer service with more resources to innovate, the company will be uniquely positioned in the market to not only meet customers’ immediate needs but also to help them transform over time. These deep customer relationships will strengthen retention, broaden cross-sell opportunities, and drive sustainable growth for the business.