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Rocket Software Acquires OpenText’s Application Modernization Business for $2.275 Bil

MALAYSIA: Rocket Software, Inc. (“Rocket Software”), a global leader in modernization software, solidifies its position as a premier partner for businesses embarking on modernization journeys with the successful acquisition of OpenText’s Application Modernization and Connectivity (AMC) business, formerly under Micro Focus. This strategic move significantly expands Rocket Software’s offerings, now providing modernization solutions from mainframe to cloud environments. The acquisition, valued at $2.275 billion, before taxes, fees, and adjustments, bolsters Rocket Software’s revenue by over 60% and broadens its customer base to more than 12,500 companies worldwide, supported by a network of over 750 partners. Furthermore, the acquisition brings on board over 770 new software engineers, go-to-market professionals, and supporting staff, with plans for additional hiring to strengthen Rocket Software’s capabilities.

Milan Shetti, President and CEO of Rocket Software, expressed pride in powering and advancing global market leaders through innovation. He highlighted the acquisition as a milestone setting a new standard for modernization excellence, reinforcing Rocket Software’s commitment to strategic growth and market expansion. Shetti emphasized the company’s readiness to address modernization challenges at scale, leveraging its expertise, resources, and flexible approach to empower clients in achieving their goals.

Peter Rutten, Research Vice President at IDC, recognized the acquisition’s significance in creating one of the largest mainframe modernization and connectivity software companies globally. He underscored Rocket Software’s commitment to meeting clients at various stages of their modernization journey, offering a comprehensive portfolio tailored to their needs, including hybrid strategies combining mainframe and cloud solutions.

Rocket Software, bolstered by the infusion of talent and innovation from AMC, is poised to revolutionize modernization by providing leading technology for mainframe optimization, offering seamless, secure, and compliant solutions. With a comprehensive range of solutions tailored to every stage of modernization, Rocket Software meets clients at various points in their journey. Departing from traditional ‘rip and replace’ methods, the company focuses on preserving and enhancing existing investments, facilitating a smooth technological evolution. Emphasizing a partnership approach, Rocket Software prioritizes customer satisfaction, positioning itself as a trusted ally rather than a mere vendor.

Rocket Software plans to integrate and enhance AMC products within its portfolio, enabling customers to remain competitive and leverage their data, applications, and infrastructure regardless of their modernization strategy. Additionally, Rocket Software will offer market-leading technologies like COBOL and Enterprise Suite, expanding mainframe modernization options and enabling seamless integration across various solutions.

Testimonials from industry leaders like RBC and AG Insurance underscore the importance of application modernization in driving digital transformation and business scalability.

To explore Rocket Software’s enhanced capabilities and solutions further, visit their website https://www.rocketsoftware.com/lets-modernize 

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