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The latest update is out from Open Text Corp. (OTEX).
Open Text Corporation successfully sold its Application Modernization and Connectivity business to Rocket Software for $2.275 billion in cash, a strategic move announced on May 1, 2024. The deal, aimed at streamlining OpenText’s operations, will see the proceeds used to pay down the company’s debt. This significant transaction reflects OpenText’s commitment to optimizing its business portfolio and strengthening its financial position, marking a notable event for stakeholders and investors in the tech and software sectors.
For an in-depth examination of OTEX stock, go to TipRanks’ Stock Analysis page.