Rocket Software, a company owned by Bain Capital Private Equity, has recently completed the acquisition of OpenText’s application modernization and connectivity business for approximately $2.3 billion. This move is expected to significantly boost Rocket Software’s revenue by 60% and expand its client base to over 12,500 companies globally.
As a result of the acquisition, Rocket Software will gain over 770 software engineers, go-to-market professionals, and other staff from OpenText. Milan Shetti, the President and CEO of Rocket Software, views this acquisition as a significant milestone that will drive innovation and growth for the company. He believes that Rocket Software now has the solutions, resources, and expertise to address modernization challenges on a larger scale.
With a focus on fostering a winning culture and maintaining strong partnerships, Rocket Software aims to help its customers succeed both now and in the future. The company’s strategic growth and market penetration are expected to be greatly accelerated by the acquisition of OpenText’s AMC business.
Rocket Software plans to continue developing AMC products to enhance its portfolio of mainframe modernization platforms and software offerings. The company views this acquisition as an opportunity to expand its product offerings and address the growing demand for modernization solutions in the enterprise space.
In addition to its technical expertise, Rocket Software also places a strong emphasis on customer success. The company works closely with its clients to understand their unique needs and provide tailored solutions that help them achieve their goals. With the addition of OpenText’s AMC business, Rocket Software expects to further strengthen its position as a leading provider of mainframe modernization solutions in the marketplace.