OPEN TEXT (OTEX) Company Report

Blackstone Growth has closed a majority investment in NetBrain Technologies, Inc., a leading AI NetOps platform.
Bernadette Nixon has been appointed Chief Executive Officer of NetBrain, with founder Lingping Gao transitioning to Chair of the Board.
Gus Malezis and Jerry Guo have joined NetBrain's Board of Directors.
The investment is focused on accelerating NetBrain's global expansion and advancing its AI-powered network automation platform.

Jan 20, 2026, 2:00 PM

Press Release

OpenText Completes Divestiture of Non-Core Unit

OTEX

M&A

Open Text Corporation completed the divestiture of eDOCS, an on-premise solution from its Analytics portfolio, to NetDocuments Software, Inc. on January 12, 2026.
The divestiture generated US$163 million in cash before taxes, fees, and other adjustments.
OpenText intends to use the net proceeds from the divestiture to reduce outstanding debt.

Jan 12, 2026, 7:08 PM

8-K

OpenText Completes Divestiture of Non-Core Unit

OTEX

M&A

Debt Issuance

Open Text Corporation completed the divestiture of its on-premise solution, eDOCS, a part of its Analytics portfolio, to NetDocuments Software, Inc.
The transaction was for $163 Million in cash before taxes, fees, and other adjustments.
OpenText intends to use the net proceeds from this divestiture to reduce outstanding debt.
This action reinforces OpenText's strategic commitment to divest non-core assets and sharpen its focus on growing its core business.

Jan 12, 2026, 7:00 PM

Press Release

OpenText Outlines Divestiture Strategy and Cloud/AI Focus at UBS Conference

OTEX

M&A

Revenue Acceleration/Inflection

New Projects/Investments

Dec 2, 2025, 9:15 PM

Transcript

OpenText Discusses Divestiture Strategy, Cloud Transition, and AI Focus

OTEX

M&A

Revenue Acceleration/Inflection

Product Launch

OpenText is executing a divestiture strategy to shed up to $1 billion in revenue, or 15-20% of the company, to concentrate on its fastest-growing and most profitable core businesses: Content, ITOM, Business Networks, and Cyber.
The company is accelerating its shift to a cloud-first model, with cloud growth increasing from 2% to 6% in the most recent quarter, and anticipates replacing $1 of maintenance revenue with $2 of cloud revenue.
OpenText's strategic focus is on providing content and data platforms, including Aviator, to train agentic AI, utilizing its extensive 1,500+ connectors and multi-model support for various large language models.
A search for a new CEO is being conducted by a newly constituted board, with an announcement anticipated by the end of the calendar year.

Dec 2, 2025, 9:15 PM

Transcript

OpenText discusses strategic direction, divestitures, and AI initiatives

OTEX

M&A

Revenue Acceleration/Inflection

New Projects/Investments

OpenText is undergoing a significant strategic shift, planning to divest up to $1 billion in revenue, aiming to reduce the company's size by 15%-20% from its current $5+ billion to $4+ billion. This divestiture process is expected to occur over the next three quarters, with one unit sold per quarter.
The company is accelerating its cloud transition, with cloud growth increasing from 2% to 6%. OpenText aims to replace $1 of maintenance revenue with multiple dollars of cloud revenue, initially targeting $2 , and has made all major products available in the cloud.
OpenText's core businesses—content, ITOM, business networks, and cyber—are central to its AI strategy, providing essential human-generated, transactional, and machine-generated content for training agentic AI. The company recently launched the Aviator data platform, designed to be multi-model and multi-application, to support this initiative.
A CEO search is in progress, with an announcement anticipated by the end of this calendar year, focusing on candidates with a solutions background.

Dec 2, 2025, 9:15 PM

Transcript

OpenText expands partnership with Google Cloud

OTEX

New Projects/Investments

Product Launch

OpenText has expanded its partnership with Google Cloud to deliver transformative solutions across artificial intelligence (AI), data privacy, and sovereign cloud infrastructure.
The collaboration will leverage Google's Gemini models and Vertex AI to drive new AI use cases and deliver a suite of intelligent agents in Gemini Enterprise, aiming to automate claims processing, enhance fraud detection, and streamline regulatory reporting for industries like insurance, financial services, and retail.
A new data protection solution for the retail sector integrates OpenText Voltage with Google BigQuery, providing advanced encryption and data protection for sensitive data.
OpenText's Private Cloud offerings now integrate with Google Cloud's Sovereign Cloud solutions, enabling organizations in regulated industries to meet stringent compliance requirements and maintain control over their data.

Nov 19, 2025, 2:00 PM

Press Release

OpenText Unveils AI Data Platform and 18-Month AI Roadmap

OTEX

Product Launch

New Projects/Investments

OpenText announced its OpenText AI Data Platform (AIDP), a new vision for enterprise AI designed to securely activate information and deliver contextual, trusted automation at scale by uniting data management and AI.
The platform leverages OpenText's expertise in data custodianship to establish contextual data foundations for accurate AI results, with key components like OpenText Aviator supporting multi-cloud, multi-model, and multi-application environments.
OpenText is expanding its partnership with Databricks to co-innovate on the AIDP, aiming to unify, govern, and analyze enterprise data for trusted AI insights.
At OpenText World 2025, the company also outlined an 18-month roadmap (OT 26.1 - OT 27.2) and introduced several innovations, including OpenText Aviator Studio, Knowledge Discovery, Data Compliance, and Aviator AI Services.

Nov 18, 2025, 2:38 PM

Press Release

OpenText Reports Q1 Fiscal 2026 Results and Strategic Focus

OTEX

Earnings

CFO Change

M&A

OpenText reported Q1 Fiscal 2026 total revenues of $1.3 billion, an increase of 1.5% year over year, with cloud revenue up 6% year over year to $485 million. Adjusted EBITDA was $467 million, representing a 36.3% margin, up 130 basis points year over year, and adjusted EPS was $1.05, up 12.9% year over year.
For Q2 Fiscal 2026, the company expects total revenue between $1.275 billion and $1.295 billion and an adjusted EBITDA margin between 35.5% and 36%. The Fiscal 2026 annual outlook remains unchanged, with revenue expected to skew higher towards a strong Q4.
OpenText is focusing on its core business units in enterprise information management to train agentic AI and plans to sell off non-core business units, with the first sale of the eDocs business already announced. The goal is to divest 15%-20% of overall revenue at a pace of approximately one per quarter over the next year.
Steve Wray joined as Executive VP and CFO in October 2025, and the search for a permanent CEO is ongoing.

Nov 6, 2025, 1:30 PM

Transcript

OpenText Reports Q1 FY26 Financial Results with Revenue Growth and Strategic Divestiture

OTEX

Earnings

M&A

Share Buyback

OpenText reported total revenues of $1.288 billion for the first quarter of fiscal year 2026, a 1.5% year-over-year increase, with cloud revenues growing 6.0% year-over-year to $485 million.
The company achieved GAAP net income of $147 million and GAAP diluted EPS of $0.58, representing 73.8% and 81.3% year-over-year increases, respectively.
Adjusted EBITDA reached $467 million, with a 36.3% margin, and free cash flows were $101 million, a 186.4% year-over-year increase for the quarter ended September 30, 2025.
OpenText announced the strategic divestiture of an on-premise solution (eDOCS) for US$163 million and repurchased $100 million of common shares.
The Board declared a quarterly cash dividend of $0.275 per common share on November 4, 2025.