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.
OpenText Corp (OTEX) specializes in enterprise information management solutions that integrate cloud technologies, AI, and cybersecurity innovations. This news hub provides investors and professionals with essential updates about the company's strategic initiatives and market position.
Access official press releases, earnings reports, and analysis of OpenText's developments in cloud platforms, data security enhancements, and strategic partnerships. Our curated collection helps stakeholders track regulatory compliance updates, product launches, and technology integrations critical to the EIM sector.
Discover updates across key operational areas including Content Cloud advancements, cybersecurity protocol updates, and business network expansions. The resource is regularly updated to reflect OpenText's role in enabling digital transformation through intelligent information management solutions.
Bookmark this page for streamlined access to verified OpenText announcements and industry analysis. Monitor how the company addresses evolving challenges in data governance, DevSecOps implementations, and global IT infrastructure demands.
OpenText (NASDAQ: OTEX) announced that Legal Aid Western Australia has chosen its Extended ECM platform to streamline information management and enhance collaboration for 400 staff. This migration involves 15 million legal documents, aimed at improving client services and operational efficiency. The platform integrates with existing applications, facilitating secure access to information. User feedback has been positive, emphasizing the system’s ease of use and immediate benefits. This partnership underscores OpenText’s role in digital transformation for legal services.
OpenText (NASDAQ: OTEX) has acquired Bricata, a Maryland-based company specializing in Network Detection & Response (NDR) technology, enhancing its Security & Protection Cloud. This acquisition allows OpenText to analyze network traffic for vulnerabilities, reducing false-positive alerts and improving real-time threat response. The integration of Bricata’s capabilities offers comprehensive visibility for security teams, enabling thorough internal investigations. The financial details regarding the acquisition were not disclosed, as they were deemed immaterial to OpenText's overall finances.
OpenText has initiated a tender offer for Zix Corporation's outstanding shares at $8.50 per share. This move aligns with the Merger Agreement signed on November 7, 2021. The Zix board supports the offer, deeming it fair and beneficial for shareholders. The tender offer will conclude at 11:59 PM ET on December 20, 2021, pending certain conditions including the tender of over two-thirds of Zix's shares. Details of the offer have been filed with the SEC, and Zix will also provide a recommendation statement for shareholders.
OpenText (NASDAQ: OTEX) launched Cloud Editions 21.4 at OpenText World on Nov. 16, 2021, introducing new integrations and applications designed to enhance business operations in a digital-first environment. Key features include improved connectivity with Salesforce and Microsoft Teams, a new Business Network Managed Services offering, and advancements in the Content, Business Network, Experience, Security, and Developer Clouds. CEO Mark Barrenechea emphasized the importance of technology-led transformation for modern organizations.
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.
