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) announced that Phillips Lytle LLP has selected the OpenText Axcelerate eDiscovery Cloud Platform, enhancing its eDiscovery process. This transition allows Phillips Lytle to reduce infrastructure costs and improve security and accessibility. With advanced analytics and machine learning, the platform significantly speeds up the review process of large datasets, giving the firm a competitive edge. Additionally, the cloud-based solution ensures secure remote access, enabling attorneys to work effectively from home while lowering overall operational costs.
OpenText (NASDAQ: OTEX) has announced that its EnCase Endpoint Security is now certified on Microsoft Azure, enhancing cloud-based threat detection and response capabilities. This certification allows organizations to quickly identify, investigate, and remediate cybersecurity threats, both in the cloud and on-premises. EnCase leverages aligned detection rules to the MITRE ATT&CK Framework for quick threat identification and provides comprehensive tools for incident investigations and remediation actions.
OpenText (NASDAQ: OTEX) announces Tata Power Delhi Distribution Limited's successful implementation of Documentum during the COVID-19 pandemic. This digital transformation has led to a significant increase in digital payments, rising from 61% to nearly 96% as customers adopted digital self-service options. The collaboration enabled remote work for around 70% of employees, ensuring continuity and productivity in providing essential services to over 7 million people in North Delhi. The partnership exemplifies resilience and innovation in challenging times.
OpenText (NASDAQ: OTEX) has launched BrightCloud® Cloud Service Intelligence on February 4, 2021. This innovative offering enhances security for Cloud applications, enabling partners to manage and enforce data-centric security policies. It includes components for Cloud Application Classification, Function, and Reputation, allowing better identification and control of potential security risks. The solution addresses the growing demand for real-time visibility and compliance in cloud environments, providing a competitive edge for vendors aiming to mitigate cloud service risks.
OpenText reported total revenues of $855.6 million for Q2 FY2021, reflecting a 10.9% year-over-year increase. Annual Recurring Revenues (ARR) reached a record $684.9 million, up 21.5% year-over-year. Cloud revenues surged to $350.5 million, marking a 41.1% growth. However, GAAP net income showed a loss of $65.5 million, down 160.9% from the previous year. Operating cash flows were strong at $282.5 million, up 36.3%. A dividend of $0.2008 per share was declared with a record date of March 5, 2021.
OpenText, a leader in information management, will showcase its new Axcelerate Investigation platform during Legalweek 2021. This tool simplifies early case assessment (ECA) by integrating data collection, processing, and analytics in one solution, effectively reducing eDiscovery costs. Key features include visual analytics, predictive searching, and automated summaries. The launch aims to help legal teams make quicker, data-driven decisions amidst increasing data volumes and stringent deadlines. The platform is positioned as a competitive advantage for organizations managing complex litigation.
OpenText (NASDAQ: OTEX) announced that TDK-Micronas, a German integrated circuit manufacturer, selected OpenText Exceed TurboX to facilitate secure remote work for its design engineers during the global pandemic. This solution enhances application execution speed while limiting data transmission, thus maintaining security on centralized servers. According to TDK-Micronas, the product supports uninterrupted collaboration and productivity. OpenText's Chief Product Officer highlighted the solution's ability to manage installations and access rights efficiently, contributing to cost reduction and operational security.
OpenText (NASDAQ: OTEX) announced that SEEPEX, a global pump manufacturer, is adopting OpenText's Content Suite and Extended ECM for SAP Solutions. This integration aims to streamline information management across the product lifecycle, improving operational efficiency and customer service. SEEPEX's Data Processing Manager highlighted the importance of a centralized platform for their 800 users, resulting in faster processing and reduced costs. The collaboration will also enhance compliance and information access, ultimately driving business growth.
Open Text Corporation (NASDAQ: OTEX) will release its second quarter fiscal year 2021 financial results on February 4, 2021, at 4:00 p.m. ET. A teleconference to discuss these results will follow at 5:00 p.m. ET, hosted by CEO Mark J. Barrenechea and CFO Madhu Ranganathan. Investors are encouraged to join approximately 10 minutes early. A replay of the call will be accessible beginning February 4 at 7:00 p.m. ET until February 18. For more details, visit Open Text Investors.
FAQ
What is the current stock price of Open Text (OTEX)?
What is the market cap of Open Text (OTEX)?
