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 reports news about enterprise data management, secure information management for AI, cloud services and capital allocation. Company updates commonly cover financial results, cloud revenue and annual recurring revenue, sovereign cloud offerings for regulated European organizations, and partnerships that place OpenText products on hyperscaler cloud infrastructure.
OpenText news also includes portfolio actions such as the completed Vertica divestiture, capital allocation through share repurchase authorizations and dividends, leadership changes, and research on AI governance and cybersecurity foundations.
Open Text Corporation (NASDAQ: OTEX) will release its financial results for the first quarter of fiscal year 2022 on November 4, 2021 at 4:00 p.m. ET. A teleconference featuring CEO Mark Barrenechea and CFO Madhu Ranganathan will follow at 5:00 p.m. ET. Investors can join the call using either toll-free or international numbers provided. A replay will be accessible from 7:00 p.m. ET on the same day until November 18, 2021. For additional details, visit OpenText's investor page.
OpenText (NASDAQ: OTEX) has partnered with WeFi Technology Group to enhance transaction processing through the Email2EDI solution. This innovation allows WeFi's 'IZZI' platform to automate document exchanges, facilitating the swift conversion of email documents into structured EDI data. This collaboration aims to improve efficiency, reduce errors, and strengthen data security, reinforcing WeFi's supply chain finance solutions. The Email2EDI system can process tens of thousands of transactions per second, aligning with WeFi's growth objectives.
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OpenText (NASDAQ: OTEX, TSX: OTEX) has partnered with Lakehead University to create up to 25 full-time summer internships for Indigenous students. The internships will be remote and span four months, focusing on areas such as software engineering, marketing, and finance. This initiative aims to provide students with valuable skills and experiences, fostering their career readiness. The recruitment for the program starts this fall, with placements expected in summer 2022. The partnership emphasizes the importance of removing barriers faced by Indigenous students in the job market.
Open Text Corporation (NASDAQ: OTEX) reported the successful conclusion of its Annual General Meeting held on September 15, 2021, where all proposals submitted were approved by shareholders. A total of 221,756,497 shares, representing 81.60% of outstanding common shares, participated in the meeting. The proposed twelve directors were elected with significant support, including David Fraser garnering 99.75% in favor. The voting results were detailed in reports filed on SEDAR and EDGAR.
OpenText (NASDAQ: OTEX, TSX: OTEX) announced the launch of ConneXions, a virtual conference set for September 14, 2021. This event aims to foster discussions on building digital resilience to minimize supply chain disruptions experienced due to various global challenges, including natural disasters and COVID-19. Industry leaders from companies like Nestlé, Godiva, and Lear Corporation will share insights on leveraging cloud solutions and enhancing operational flexibility. For registration details, visit OpenText's website.
OpenText (NASDAQ: OTEX) announced the integration of N-central into its Webroot Business Endpoint Protection platform, enhancing security for Managed Service Providers (MSPs) and small to medium-sized businesses (SMBs). This partnership aims to deliver a simplified security ecosystem, enabling organizations to manage multiple endpoints efficiently. Key benefits include easy deployment, real-time access to agent status, and customizable scans.
Quinn Curtis emphasized the need for manageable cybersecurity solutions, while Panagiotis Koskeridis highlighted improved visibility and support for clients. The integration responds to the evolving security needs of MSPs.
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OpenText (NASDAQ: OTEX) has expanded its data center in The Netherlands to bolster support for Carbonite® Server. The move aims to enhance flexibility for small and medium-sized business (SMB) customers, ensuring compliance with UK and EU regulations. Industry leaders recognize the importance of this expansion in addressing data sovereignty challenges, while enhancing the GDPR compliance options for clients. The Carbonite Server solution offers a comprehensive backup and recovery system, reinforcing OpenText's commitment to grow its presence in Europe.
OpenText Corporation (OTEX) reported record annual revenues of $3.39 billion for fiscal 2021, up 8.9% year-over-year, driven by cloud revenue growth of 21.6% to $1.4 billion. Annual recurring revenues reached $2.74 billion, representing 81% of total revenues. GAAP net income rose by 32.6% to $310.7 million with a margin of 9.2%. The company repurchased 2.5 million shares for $119.1 million and increased its quarterly dividend by 10% to $0.2209 per share, signaling a strong commitment to returning value to shareholders.