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.
Open Text Corp (NASDAQ/TSX: OTEX), a recognized leader in enterprise information management (EIM), specializes in developing and delivering advanced software solutions designed to manage, leverage, and secure enterprise data. Founded in the mid-1980s at Canada's University of Waterloo, OpenText started with a focus on the Oxford English Dictionary technology project. Today, it offers a comprehensive suite of services that enable global enterprises, SMBs, governments, and consumers to gain valuable insights from unstructured information, such as documents, emails, and presentations.
Headquartered in Ontario, Canada, OpenText has evolved significantly, particularly with its recent release of Cloud Editions 24.1. This update includes the latest innovations in OpenText Aviator™, which enhances AI-driven use cases by providing secure information management and governance across knowledge bases without requiring data migration. These advancements underscore OpenText's strategic approach to integrating AI into business workflows, fostering a paradigm shift in operational efficiencies and decision-making processes.
OpenText's fiscal 2024 second-quarter results highlighted a 71% year-over-year revenue increase, reaching a record $1.535 billion. This growth was driven by heightened demand for cloud services, with enterprise cloud bookings up by 63%. The company's strategic divestiture of its AMC/Mainframe business to Rocket Software for $2.275 billion further emphasizes its focus on higher-growth opportunities in cloud, security, and AI markets.
Recent achievements include the introduction of the second generation of Fortify Audit Assistant, which enhances cybersecurity auditing capabilities using machine learning to reduce false positives and streamline security processes. Additionally, OpenText's involvement in the U.S. Government's Joint Cyber Defense Collaborative (JCDC) reflects its commitment to enhancing cybersecurity resilience through proactive defense measures.
OpenText continues to foster innovation and growth, as exemplified by its upcoming OpenText World Europe 2024 event series, which will showcase next-generation cloud and AI developments. The company remains committed to returning value to shareholders through its dividend program and has reinstated its share repurchase plan, underscoring confidence in its financial stability and growth prospects.
OpenText (NASDAQ: OTEX) announced its digital security conference, OpenText Enfuse On Air 2020, running from November 10 to December 1. The event will deliver weekly sessions focused on cybersecurity and data protection, featuring industry experts and keynote speakers including General Nadja West and CEO Mark J. Barrenechea. Attendees will access live and on-demand content covering emerging trends, digital investigations, and incident response tactics. The conference aims to bolster cybersecurity resilience in a landscape increasingly threatened by cybercrimes.
OpenText (NASDAQ: OTEX) has announced the launch of Cloud Edition 20.4, enhancing its cloud services with innovative features and new SaaS applications. This release aims to simplify customer adoption and optimize business processes amidst evolving work models and global challenges. Key updates include 40 new connectors and new applications for IoT Shipment Tracking. OpenText’s commitment to providing flexibility in deployment options will help businesses adapt, ensuring resilience and future growth.
OpenText (NASDAQ: OTEX) kicked off OpenText World 2020, the largest information management conference, emphasizing digital transformation amid ongoing economic and technological shifts. CEO Mark Barrenechea unveiled Cloud Editions 20.4, featuring new SaaS applications and enhancements, aimed at evolving business operations. Keynote speakers include Al Gore and Dr. Poppy Crum, focusing on the intersection of technology and human interaction. The event, running for four days, allows attendees to engage in digital labs and product sessions.
On Oct. 26, 2020, OpenText (NASDAQ: OTEX) announced the launch of the OpenText Developer Cloud, a platform aimed at developers for creating custom applications leveraging OpenText's information management services. This platform provides access to a suite of APIs and tools, categorized into eight key service areas including Capture & Digitize, Store & Manage, and Protect & Secure. The Developer Cloud is part of the OpenText CE 20.4 launch, which enhances capabilities for managing information and aims to foster innovation in enterprise applications.
OpenText has launched its Core Signature service, expanding access to electronic signatures for small and medium-sized businesses, large enterprises, and developers. This offering includes a low-cost option for SMBs and facilitates document signing through integrated applications. Companies can benefit from this service by digitizing approval processes, saving time, and enabling remote work.
OpenText is offering a 14-day free trial of the Core Signature, aimed to enhance workflows across various organizations.
OpenText Corporation (NASDAQ: OTEX) announced its first-quarter fiscal year 2021 financial results will be released on November 5, 2020, at approximately 4:00 p.m. ET. A teleconference call featuring CEO Mark J. Barrenechea and CFO Madhu Ranganathan will take place that same day at 5:00 p.m. ET. Investors are encouraged to join the call early and a replay will be available until November 19, 2020. Additionally, OpenText will host a virtual Investor Day on November 12, 2020, providing a strategic update and presentations from its executive team.
OpenText (NASDAQ: OTEX) has announced OpenText Support for Alfresco, a new service suite for users of Alfresco Content Services and Community Edition. This offering includes 24/7 support, cost-effective services, and regular code updates. OpenText's dedicated team aims to enhance the Alfresco community experience amidst ongoing uncertainties involving Alfresco's acquisition by Hyland. Customers can access additional features like archiving and intelligent capture through OpenText's cloud services. This initiative is expected to provide reassurance and improved support options for Alfresco clients.
OpenText (NASDAQ: OTEX) reported a 34% surge in email volume, highlighting increased phishing risks during the COVID-19 pandemic. A global survey revealed that 95% recognize phishing as a major concern, yet 76% admit to opening emails from unknown senders. Despite the rise in online shopping, 68% believe that their financial information is at greater risk. The report underscores a critical need for enhanced cybersecurity training, revealing that only 21% of companies increased such training during the pandemic.
On September 14, 2020, Open Text Corporation (NASDAQ: OTEX) announced that all proposals presented at its virtual Annual General and Special Meeting of Shareholders were approved. Notable outcomes include the election of eleven nominee directors, with a total of 219,625,895 common shares representing 80.78% of outstanding shares present or represented by proxy. Specific voting results showed high percentages of support for individual nominees, with David Fraser receiving 99.06% of votes in favor. Detailed results are available in the Report of Voting Results filed on SEDAR and EDGAR.
OpenText has announced the agenda for OpenText World, the largest information management conference, set to be held digitally from October 26-29, 2020. Keynote speakers include Mark J. Barrenechea, Al Gore, and Dr. Poppy Crum. The event will explore themes like the future of business, technological advancements, and their intersection with human evolution. Registration is open and the program will feature diverse sessions, aiming to educate, engage, and empower attendees in information management strategies.
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