OpenText increases buyback program to $450M

OpenText (OTEX) announced that it has increased its previously announced Fiscal 2025 normal course issuer bid by $150M, to purchase for cancellation up to a maximum aggregate value of $450M of its common shares. The maximum number of Common Shares that may be acquired under the NCIB will remain unchanged at the 21,179,064 Common Shares previously approved by the Toronto Stock Exchange. Further, as part of the NCIB, it has established an automatic share purchase plan with its broker to facilitate repurchases of the Common Shares.