Open Text Corp - OTEX STOCK NEWS

OpenText (NASDAQ: OTEX) has launched the Cloud Editions 21.4 release, enhancing its Business Network Cloud capabilities. This platform enables companies to digitize their supply chains by connecting with over one million trading partners globally. Key features include improved API integrations, enhanced IoT shipment tracking, and new automated invoicing solutions for manufacturers. The CE 21.4 release aims to provide businesses of all sizes with the flexibility to adapt to supply chain challenges, promising greater compliance and shipment visibility. OpenText is positioning itself as a leader in the digital commerce space.

Open Text Corporation (NASDAQ: OTEX) announced the pricing of $1.5 billion in senior unsecured fixed rate notes, up from the previously reported $1.0 billion. The offerings include $850 million in 3.875% notes due 2029 and $650 million in 4.125% notes due 2031. The proceeds will primarily be used to redeem OpenText's outstanding 5.875% notes due 2026, amounting to $850 million, along with a $25 million make-whole premium. The transaction is expected to close on November 24, 2021, subject to customary conditions.

Open Text Corporation (NASDAQ: OTEX) has announced proposed offerings of $1.0 billion in senior unsecured fixed rate notes. The company intends to use a substantial portion of the proceeds to redeem $850 million of its outstanding 5.875% notes due 2026, along with a $25 million make-whole premium. The offerings include notes due in 2029 and 2031, with terms dependent on market conditions. The notes will not be registered under the Securities Act, limiting their sale in the U.S. These offerings aim to bolster OpenText's financial flexibility and support future acquisitions.

OpenText announced its agreement to acquire Zix Corporation for approximately $860 million in cash, with a tender offer of $8.50 per share. This acquisition aims to enhance OpenText's SMB platform by integrating Zix's email security and compliance solutions, along with expanding their relationship with Microsoft. The deal is expected to contribute to cloud revenues and adjusted EBITDA, with Zix's annual recurring revenues above 90%. The transaction is anticipated to close within 90 days.

OpenText Corporation (NASDAQ: OTEX) reported a strong first quarter for fiscal 2022, with total revenues reaching $832.3 million, a 3.5% increase year-over-year. Key financial metrics included GAAP net income of $131.9 million (+27.6% Y/Y) and diluted EPS of $0.48 (+26.3% Y/Y). Annual Recurring Revenues (ARR) rose to $691.8 million, accounting for 83% of total revenues, with Cloud revenues at $356.6 million (+4.6% Y/Y). Operating cash flows were $189.7 million, while free cash flows totaled $163.0 million. OpenText also announced a cash dividend of $0.2209 per share, reaffirming its commitment to returning value to shareholders.

OpenText (OTEX) announced its participation in the world's largest information management conference, OpenText World, scheduled for November 16-18, 2021. Keynote speakers include CEO Mark J. Barrenechea, Dr. Neil deGrasse Tyson, and Arianna Huffington. The event will feature over 70 sessions focused on cloud innovations, cybersecurity, and data management strategies. Registration is now open, with a customizable program available both live and on-demand for attendees. The conference aims to equip organizations with tools to navigate digital transformations effectively.

OpenText (NASDAQ: OTEX) has been named a Leader in the 2021 Gartner Magic Quadrant for Content Services Platforms for the seventeenth consecutive year. This recognition highlights the company’s ability to connect critical systems and applications, facilitating a seamless experience for a distributed workforce. The OpenText Content Cloud offers comprehensive tools for content management, e-signature, and archiving, enhancing productivity and reducing risks. Recent client feedback underscores significant efficiency improvements in document management.

OpenText (NASDAQ: OTEX) has enhanced its Carbonite Server® with new features aimed at improving data protection against ransomware. Key updates include hourly backups, which enable administrators to set frequent backup schedules, and early warning alerts to detect potential ransomware threats. These enhancements aim to minimize downtime and bolster recovery capabilities. Executives emphasize that these new tools help organizations avoid ransom payments and recover quickly from data losses, underscoring the growing importance of robust cybersecurity measures amid rising ransomware attacks.

OpenText™ (NASDAQ: OTEX, TSX: OTEX) announced the launch of Cloud Editions (CE) 21.4, enhancing its Content Cloud with deeper integrations into business applications such as Salesforce and Microsoft 365. The update emphasizes improved collaboration, AI-driven information extraction, and advanced risk management capabilities. New tools include enhanced eSignature solutions and eDiscovery features, aiming to facilitate remote work. With these advancements, OpenText aims to empower employees by integrating content services into everyday applications, driving productivity and compliance.