Open Text Corp - OTEX STOCK NEWS

OpenText (NASDAQ: OTEX) has expanded its Partner Network access to include its complete portfolio of information management solutions. This expansion follows the Micro Focus acquisition and encompasses Content Services, Experience Management, Security, IT Operations Management, and Developer tools, along with cloud, AI, automation, and analytics capabilities. The initiative aims to provide Global Distributors and Value Added Resellers with broader opportunities to serve customers' digital transformation needs. Major distributors including Arrow, Carahsoft, Climb, Prianto, and TD SYNNEX have expressed support for this expansion, highlighting enhanced value proposition for partners and improved customer service capabilities.

OpenText (NASDAQ: OTEX) has launched a new Partner Enterprise Learning Subscription at OpenText World 2024. This program provides Partners with unlimited access to self-paced training, hands-on lab environments, and certification vouchers. The subscription includes training analytics for tracking skill acquisition and certification visibility across the organization. Product certification is now mandatory for Partner practitioners handling technical functions. OpenText is also relaunching its Partner Directory, which will display Partner certifications, helping customers make informed choices and Partners differentiate themselves in the market.

OpenText has announced its comprehensive program for OpenText World 2024, scheduled for November 18-21 at the Venetian Resort in Las Vegas. The conference will feature interactive workshops and learning pathways focusing on AI, cloud, and security integration in information management.

The event includes specialized sessions on analytics, AI implementation, supply chain enhancement, and cybersecurity. Google Cloud and SAP are confirmed as Innovator-level sponsors. The program offers certification opportunities, hands-on labs, and pre-conference training to help attendees maximize their proficiency with OpenText technologies.

OpenText World 2024, the leading information management conference, will take place at the Venetian Hotel Resort, Las Vegas, from November 18-21, 2024, both in-person and virtually. The conference focuses on AI-driven knowledge workers and how integrated AI, cloud, and security solutions are reshaping business operations.

The event features keynote sessions from OpenText leadership, including CEO Mark J. Barrenechea and Chief Product Officer Muhi Majzoub, alongside special guests like Venus Williams. Industry leaders from Bank of Montreal, Catalent, Bosch, and American Family Insurance will share insights on AI implementation, cloud modernization, and information security.

OpenText has released its annual 'Nastiest Malware of 2024' report, highlighting escalating ransomware threats targeting critical infrastructure. Organizations are expected to increase cybersecurity investments by 14.3% to $215 billion in 2024. LockBit maintains its position as the top malware threat, with 175 reported attacks on critical infrastructure according to FBI data. The report identifies other significant threats including Akira, RansomHub, Dark Angels, Redline, and Play Ransomware, each targeting different sectors with sophisticated attack methods.

OpenText (OTEX) reported Q1 FY2025 financial results with total revenues of $1.27 billion, down 11.0% year-over-year. The company achieved its 15th consecutive quarter of cloud organic growth, with cloud revenues up 1.3% to $457 million. Annual recurring revenues reached $1.05 billion, representing 83% of total revenues. The company delivered a GAAP-based net income margin of 7% and Adjusted EBITDA margin of 35.0%. OpenText returned $154 million to shareholders through dividends and share repurchases, having purchased and canceled 7.72 million shares over the last two quarters.

OpenText (NASDAQ: OTEX) has been recognized as one of the World's Top Companies for Women 2024 by Forbes, ranking in the top 20% of global companies. This marks the second consecutive year of recognition, based on surveys of approximately 100,000 women evaluating gender-related workplace topics.

Through its Zero-In Initiative, OpenText has committed to achieving 50/50 gender parity in key roles and 40% women in leadership across management levels by 2030. The company focuses on recruitment, retention, mentorship, and supporting its Worldwide OpenText Women (WOW) Employee Network Group.

This recognition joins other recent accolades, including being named one of World's Top Employers 2024 by Forbes, ranking third in Canada's Most Responsible Companies 2025, and recognition as one of World's Best Companies 2024 by TIME.

OpenText has announced a significant upgrade to its Secure Cloud platform, aimed at boosting growth for managed security providers (MSPs). The enhanced platform offers automated provisioning, improved product bundling, integrated task management, and advanced reporting and analytics capabilities. These features are designed to streamline MSP operations, allowing them to focus on customer growth and retention.

The update responds to market demands revealed in OpenText Cybersecurity's 2024 Global Managed Security Survey, which found that 56% of MSPs are chosen for their robust security services. Key enhancements include a modern interface with new MSP workflows, streamlined billing and invoicing, new cross-functional security solution bundles, and integration with leading platforms like ConnectWise, Kaseya, and Autotask. The platform now also offers OpenText MDR, Cork Cyber warranty, Pen testing, and Azure Virtual Desktop capabilities.

The 16th edition of the World Quality Report, titled 'New Futures in Focus', reveals significant developments in Quality Engineering (QE). Key findings include:

1. 68% of organizations are either actively using Generative AI (Gen AI) or have developed roadmaps for implementation.

2. 72% of respondents report faster automation processes due to Gen AI integration.

3. 82% of organizations have dedicated learning pathways for QE teams, but only 50% track their effectiveness.

4. Challenges in automating testing environments persist, with 57% lacking comprehensive strategies and 64% relying on legacy systems.

5. Only 25% of organizations measure the environmental impact of IT development, while 44% track testing activities' impact.

The report emphasizes the need for organizations to better align QE metrics with business outcomes and adopt comprehensive Green IT strategies.