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OpenText Corp. says it's divesting its AMC business to Rocket Software, Inc. for US$2.275 billion in cash.

Breaking News, Sports, Manitoba, Canada

Rocket Software, Inc. (“Rocket Software”), a global technology leader driving modernization for the world’s largest companies, today announced it has signed a definitive agreement to acquire the Application Modernization and Connectivity business (AMC) of OpenText (NASDAQ: OTEX), (TSX: OTEX), which was formerly part of Micro Focus.

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Open Text Corp.’s stock was up by 2% in premarket trading on Wednesday, a day after the company said it would sell its AMC business unit to Rocket Software...

/PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced that it has reached a definitive agreement to divest its AMC business to...

Says it will use the proceeds to improve its financial position and focus on cloud and artificial intelligence businesses