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Open Text Corp - OTEX STOCK NEWS

Welcome to our dedicated news page for Open Text (Ticker: OTEX), a resource for investors and traders seeking the latest updates and insights on Open Text.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Open Text's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Open Text's position in the market.

News
Rocket Software to Acquire OpenText’s Application Modernization and Connectivity Business
Rhea-AI Summary
Rocket Software, Inc. (NASDAQ: RCKT) has signed a definitive agreement to acquire the Application Modernization and Connectivity business (AMC) of OpenText for $2.275B. This acquisition aims to enhance Rocket Software's hybrid cloud strategy and modernization portfolio, enabling customers to optimize their application portfolio without disrupting their mission-critical operations. The deal is expected to close in Q2 2024, subject to regulatory approvals and customary closing conditions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.82%
Tags
acquisition
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News
OpenText to Divest Application Modernization and Connectivity (AMC) Business to Rocket Software for $2.275B
Rhea-AI Summary
Open Text Corporation (NASDAQ: OTEX) announced the divestiture of its AMC business to Rocket Software, Inc. for US$2.275 billion in cash. This move reinforces the company's focus on Cloud and AI, resulting in more predictable growth, increased focus on cloud growth opportunities, and accelerated de-leverage plan. OpenText expects to be under 3x Consolidated Net Leverage Ratio within 90 days of closing, returning to capital flexibility, including potential future share buybacks.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.82%
Tags
none
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News
OpenText Named a Leader in Customer Communications Management and Communications Experience Platforms in the 2023 Aspire Leaderboard
Rhea-AI Summary
OpenText (NASDAQ: OTEX) Named Leader in 2023 Aspire Leaderboard for Customer Communications Management and Customer Experience Management Software. The company's strong scores in platform strength, software capabilities, market presence, company vision, and technical strategy solidify its market leadership. OpenText's integrated Experience Cloud platform and recent AI framework launch redefine customer communication journeys at scale.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.13%
Tags
none
News
OpenText Cybersecurity 2023 Global Ransomware Survey: Companies Still Don't Believe They are Targets for Ransomware Attacks
Rhea-AI Summary
OpenText™ (NASDAQ: OTEX), (TSX: OTEX) Releases 2023 Cybersecurity Global Ransomware Survey Results, Showing Rise in Cybersecurity Spending and Hiring
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.4%
Tags
none
-
News
OpenText Reports First Quarter Fiscal Year 2024 Financial Results
Rhea-AI Summary
OpenText Corporation (NASDAQ: OTEX) reported record Q1 total revenues of $1.425 billion, up 67.3% YoY. Cloud revenues increased by 11.5% YoY to $451 million. Annual recurring revenues (ARR) reached $1,149 million, up 59.1% YoY. Quarterly enterprise cloud bookings were $121 million, up 8.2% YoY. Operating cash flows were $47 million and free cash flows were $10 million. The company achieved a GAAP-based net income of $81 million and adjusted EBITDA of $495 million, with a margin of 34.7%. GAAP-based diluted earnings per share (EPS) were $0.30, and non-GAAP diluted EPS were $1.01.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.34%
Tags
earnings
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News
OpenText Cybersecurity Nastiest Malware of 2023 Shows Ransomware-as-a-Service Now Primary Business Model
Rhea-AI Summary
OpenText announces the Nastiest Malware of 2023, revealing the rise of ransomware-as-a-service (RaaS) and the decreasing percentage of people who pay ransom. Cl0p tops the list with its high ransom demands, while Black Cat, Akira, Royal, Black Basta, and Lockbit also make their debut.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.81%
Tags
none
News
OpenText AI Enables Smarter Organizations
Rhea-AI Summary
OpenText introduces OpenText Aviator AI capabilities in Cloud Editions 23.4
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.32%
Tags
AI
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News
OpenText to Report First Quarter Fiscal Year 2024 Financial Results on Thursday, November 2, 2023
Rhea-AI Summary
Open Text Corporation to release Q1 FY2024 financial results on November 2, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.32%
Tags
conferences earnings
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News
OpenText Introduces New Unified Global Partner Network
Rhea-AI Summary
OpenText announces new unified OpenText Partner Network
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.11%
Tags
none
News
OpenText Announces Voting Results for Election of Directors
Rhea-AI Summary
Open Text Corporation confirms re-election of all nominee directors at Annual Meeting of Shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.79%
Tags
none
Stock OTEX logo
Open Text Corp

Nasdaq:OTEX

OTEX Rankings

#813 Ranked by Market Cap
#1174 Ranked by Stock Gains
#1171 Ranked by Dividends

OTEX Stock Data

9.57B
261.77M
2.23%
77.66%
2.07%
Computer Systems Design Services
Professional, Scientific, and Technical Services
Link
Canada
Waterloo

About OTEX

opentext, the information company™, a market leader in enterprise information management software and solutions, enables intelligent and connected enterprises by managing, leveraging, securing and gaining insight into enterprise information, on-premises or in the cloud. for more information about opentext (nasdaq/tsx: otex), visit www.opentext.com.