OpenText Completes Divestiture of Non-Core Unit for $163 Million

Executive Summary

• OpenText completed the sale of its eDOCS on‑premise solution to NetDocuments for $163 million cash (pre‑tax, fees and adjustments).
• Proceeds will be used to reduce outstanding debt, sharpening focus on core analytics and information‑management businesses.
• The transaction underscores OpenText’s strategic plan to divest non‑core assets and accelerate long‑term value creation.

Key Details

• Transaction: Sale of eDOCS (part of Analytics portfolio) to NetDocuments Software, Inc.
• Consideration: $163 million cash before taxes, fees and other adjustments.
• Use of Proceeds: Primarily to reduce OpenText’s outstanding debt.
• Strategic Rationale: Aligns with management’s commitment to divest non‑core assets and concentrate on core growth initiatives.
• Announcement Source: Press release via PR Newswire; statements from Tom Jenkins, Executive Chairman & Chief Strategy Officer.

Notable Quotes

“The closing of this transaction reinforces our strategic commitment to divest non‑core assets as we continue to sharpen our focus on growing our core business to accelerate long‑term value creation,” – Tom Jenkins, OpenText Executive Chairman and Chief Strategy Officer.