Rocket Software Inc., a technology company focused on modernization software and a portfolio company of Bain Capital Private Equity, has bought the application modernization and connectivity business of OpenText, formerly part of Micro Focus, for $2.275 billion.
With this deal, Rocket Software now offers customers modernization software services spanning the mainframe to the cloud. Rocket Software will integrate and continue to develop AMC products to enhance its portfolio, helping customers to leverage their data, applications and infrastructure regardless of their modernization strategy.
“The acquisition of the OpenText AMC business is a significant milestone that sets a similar new standard for modernization innovation and excellence at Rocket Software and greatly accelerates our strategic growth and market penetration,” states Milan Shetti, president and CEO of Rocket Software. “We now have the solutions, resources and expertise to tackle modernization challenges at scale, and the continued flexibility, winning culture, proven partnerships and growth mindset necessary to help our customers win today and well into the future.”