Rocket Software finalises acquisition of OpenText's AMC business
Rocket Software has concluded the acquisition of the Application Modernisation and Connectivity (AMC) business of OpenText, previously a part of Micro Focus. As a result, the technology firm's software solutions portfolio now ranges from the mainframe to the cloud.
The total purchase price of the deal before taxes, fees, and other adjustments is $2.275 billion. The acquisition has increased the company's revenue by over 60%, expanded its customer base to more than 12,500 companies, and extended its network to over 750 partners globally. Rocket Software warmly welcomes over 770 additional software engineers, go-to-market professionals, and other supporting team members. It also plans to hire hundreds of additional 'Rocketeers' to join its existing workforce.
"The acquisition of the OpenText AMC business is a significant milestone that sets a similar new standard for modernisation innovation and excellence at Rocket Software and greatly accelerates our strategic growth and market penetration," said Milan Shetti, President and CEO of Rocket Software. He added that they are now better equipped to tackle modernisation challenges at scale with an enduring flexibility, a winning culture, proven partnerships, and a growth mindset.
According to Peter Rutten, Research Vice-President, Performance Intensive Computing, IDC, the combination of OpenText's AMC business and Rocket Software's highly complementary businesses transforms Rocket Software into one of the world's foremost mainframe modernisation and connectivity software companies. He highlighted Rocket Software's devotion to meeting clients wherever they are on their modernisation journey. "Now Rocket Software will have a comprehensive portfolio that allows clients to modernise their workloads in place, move applications to the cloud or a combination of both through a hybrid strategy, which we see most enterprises prefer," Rutten said.
Rocket Software plans to continue developing AMC products to enhance its portfolio, helping customers stay competitive and leverage their data, applications, and infrastructure irrespective of their modernisation strategy. The new capabilities, including offerings like COBOL and Enterprise Suite that allow companies to run COBOL and PL/I applications on distributed or cloud servers, extend the mainframe modernisation strategies that Rocket Software can offer. It enables customers to run workloads wherever it makes sense for their business, connecting any combination of solutions across the modernisation continuum.
EVP, Innovation & Technology, RBC, Martin Wildberger stressed the importance of application modernisation in financial services. "As a Rocket Software customer, we've experienced first-hand the company's commitment to innovation," he said. Jos Fortemps, CTO, AG Insurance, also highlighted that the demand for modernisation in their organisation is continually progressing as they grow and scale their business. He looks forward to exploring new opportunities for their data, application, and infrastructure that drives them into the future, now that OpenText AMC solutions form part of Rocket Software.
