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Open Text ( (TSE:OTEX) ) has provided an announcement.
On May 11, 2026, OpenText announced it had completed the sale of Vertica, a non-core structured data analytics platform within its analytics portfolio, to Rocket Software for US$150 million in cash before taxes, fees and other adjustments. The deal, which transfers Vertica’s software, customer contracts, services and staff to Rocket Software, supports OpenText’s strategy of exiting non-core assets, focusing investment on core businesses and using the proceeds to pay down debt, with implications for a more streamlined balance sheet and tighter strategic focus.
Management framed the divestiture as part of a disciplined capital allocation approach aimed at optimizing growth and long-term value creation for clients, partners and shareholders. By shedding a non-core analytics asset and redirecting capital and attention to its main data management and enterprise AI operations, OpenText seeks to sharpen its competitive positioning in a crowded enterprise software market and improve financial flexibility for future initiatives.
The most recent analyst rating on (TSE:OTEX) stock is a Hold with a C$25.00 price target. To see the full list of analyst forecasts on Open Text stock, see the TSE:OTEX Stock Forecast page.
Spark’s Take on OTEX Stock
According to Spark, TipRanks’ AI Analyst, OTEX is a Neutral.
The score is driven primarily by solid underlying financial performance (strong margins and improved profitability, but still meaningful leverage) and attractive valuation (low P/E with a strong dividend). Technicals are mixed with only modest near-term momentum versus a weaker long-term trend, while the earnings call adds support via raised cloud/bookings/free-cash-flow targets despite some cash flow and legacy-revenue pressures.
To see Spark’s full report on OTEX stock, click here.
More about Open Text
OpenText is a global leader in data management for enterprise AI, providing technologies that help organizations protect, govern and activate their data. Its software turns data into contextualized information to underpin enterprise AI, positioning the company at the center of corporate efforts to build secure, intelligent knowledge bases.
YTD Price Performance: -23.55%
Average Trading Volume: 1,522,420
Technical Sentiment Signal: Sell
Current Market Cap: C$8.2B
For an in-depth examination of OTEX stock, go to TipRanks’ Overview page.