Welcome to our dedicated page for Open Text news (Ticker: OTEX), a resource for investors and traders seeking the latest updates and insights on Open Text stock.
Open Text Corporation (OTEX) generates a steady flow of news as a Cloud and AI company focused on secure information management for AI. Its announcements highlight how the company designs, develops, markets, and sells information management software and solutions that help organizations protect, govern, and activate their data with confidence. News items often emphasize OpenText’s role in turning data into information with context to support AI and business decision-making.
Investors and technology professionals following OTEX news will see regular updates on financial performance, including quarterly earnings releases and related conference calls, as reported through press releases and Form 8-K filings. The company also reports on its dividend declarations under its dividend policy, providing insight into its capital return approach, while noting that future dividends remain subject to board discretion and contractual limitations.
Beyond earnings, OpenText frequently announces product and platform developments. Recent news has covered the introduction of the OpenText AI Data Platform (AIDP), enhancements to OpenText Aviator for agentic AI, and new cybersecurity capabilities under the OpenText Cybersecurity brand, such as Core Threat Detection and Response, Core Identity Foundation, Application Security Aviator, and Data Privacy and Protection (Voltage). These updates illustrate how the company is aligning information management, security, and AI.
OTEX news also includes partnership and ecosystem developments. Examples include expanded collaboration with Google Cloud around AI, data privacy, and sovereign cloud, and certification of OpenText Core Content Management for SAP S/4HANA Cloud Public Edition. Corporate governance and leadership changes, such as board appointments and executive transitions, are disclosed via news releases and SEC filings. For investors and analysts, the OTEX news feed provides a centralized view of OpenText’s financial updates, strategic moves, product roadmap, and ecosystem relationships over time.
OpenText (NASDAQ: OTEX) released the 2022 BrightCloud® Threat Report, highlighting a 770% increase in phishing activity in May 2021. The report emphasizes the need for businesses to enhance cyber resilience amid escalating threats. Key findings include that 86.3% of malware is unique to individual PCs, with manufacturing being the most impacted industry. Cybercriminals are shifting tactics, with cryptomining becoming more prevalent. The report underscores the urgency for organizations to implement robust multi-layered security strategies to protect against these emerging risks.
OpenText (NASDAQ: OTEX) announced a partnership with Close Brothers Asset Finance and Leasing to enhance digital transformation through advanced content management solutions. The collaboration involves implementing OpenText's cloud-based Extended ECM and Digital Experience offerings, facilitating secure document management and improving customer interactions. This initiative aims to streamline operations and bolster compliance while integrating with business applications like Salesforce. The move aligns with Close Brothers' strategy to modernize customer experiences and remove information silos.
OpenText (NASDAQ: OTEX) announced new features for its Axcelerate platform during Legalweek New York 2022, aimed at enhancing legal discovery and compliance processes. Key innovations include RegEx Search Enrichment for personal data protection and improved chat review functionalities. These enhancements are designed to optimize efficiency and reduce costs in eDiscovery projects, with reported time savings of over 45%. The upcoming integration with Insight Predict will further streamline review timelines and promote better document relevance identification.
OpenText (OTEX) announced Cloud Editions 22.1, enhancing tools for digital transformation. The update supports over 3,000 private cloud customers and 11 million public cloud subscribers, focusing on resilience in information management. Key features include the OpenText Supplier Portal for secure access to information and integrations with Microsoft Teams to improve collaboration. CE 22.1 aims to optimize supply chains, enhance productivity, and provide personalized customer experiences.
OpenText (NASDAQ: OTEX) announced that MSIG Singapore and MSIG Malaysia have implemented its information management solutions to enhance customer experiences and operational efficiencies.
MSIG Asia is leveraging various OpenText solutions, including Extended ECM, Intelligent Capture, Exstream, and AppWorks, to support its digital transformation strategy. The collaboration aims to empower modern work environments and increase self-service capabilities for customers. This initiative marks a significant step in MSIG's ongoing investment in digital capabilities.
OpenText announces a deepened partnership with Google Cloud to launch OpenText Core Content on Google Cloud, enhancing access to its enterprise productivity suite. This collaboration aims to utilize Google Cloud's capabilities for secure software supply chains and DevOps practices, facilitating low-latency access for distributed teams. The partnership will also explore integrations with Google Workspace, ensuring secure data access and enhancing productivity. This initiative aligns with the shift towards hybrid work environments, addressing organizational needs for technology and information management.
OpenText reported Q2 FY2022 revenues of $876.8 million, up 2.5% year-over-year, with cloud revenues at $364.9 million, an increase of 4.1%. Annual recurring revenues reached $699.8 million, representing 80% of total revenues. GAAP net income was $88.3 million, a 234.9% increase year-over-year. The company also acquired Zix Corporation for $896 million and issued $1.5 billion in senior notes to refinance existing debt. Operating cash flows were $216.6 million, and free cash flows were $206 million.
OpenText (NASDAQ: OTEX, TSX: OTEX) announced strategic appointments to enhance its executive leadership. Sandy Ono joins as Chief Marketing Officer, bringing experience from Hewlett Packard Enterprise, while Michael Acedo has been promoted to Chief Legal Officer, previously serving as General Counsel. Doug Parker takes on the role of Executive Vice President, Corporate Development, with over ten years at OpenText. Gordon Davies will retire in September 2022 after 13 years. CEO Mark Barrenechea expressed confidence in the team's capability to drive profitable growth.
OpenText (NASDAQ: OTEX, TSX: OTEX) has announced the implementation of its Vendor Invoice Management (VIM) for SAP Solutions by Faurecia, a global leader in automotive technology. This solution enhances financial processes amid pandemic challenges, streamlining document-centric processes and increasing cash visibility. Faurecia digitized 80% of its 2 million annual financial operations, optimizing procurement operations. OpenText's VIM allows companies to ensure accurate and timely payments to vendors, thus improving efficiency and collaboration across the organization.
Open Text Corporation (NASDAQ: OTEX) will announce its second quarter fiscal year 2022 financial results on February 3, 2022, at approximately 4:00 p.m. ET. A teleconference will follow at 5:00 p.m. ET, hosted by CEO Mark J. Barrenechea and CFO Madhu Ranganathan. Investors can join the call at 1-800-319-4610 (toll-free). A replay will be available starting the same day at 7:00 p.m. ET until February 17, 2022. Open Text will also hold a virtual Investor Day on March 1, 2022.