Rocket Software, a company owned by Bain Capital Private Equity, has recently completed the acquisition of OpenText’s application modernization and connectivity business for around $2.3 billion. This move is expected to greatly enhance Rocket Software’s revenue by 60% and expand its client base to over 12,500 companies globally.
The acquisition of OpenText’s AMC business means that Rocket Software will gain over 770 software engineers, go-to-market professionals, and other staff from OpenText. With this increased workforce, Rocket Software plans to continue developing AMC products to enhance its portfolio of mainframe modernization platforms and software offerings.
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. Shetti believes that with the solutions, resources, and expertise gained from the acquisition, Rocket Software now has the capabilities to address modernization challenges on a larger scale.
Moving forward, Rocket Software aims to foster a winning culture and maintain strong partnerships with its customers. The company’s strategic growth and market penetration are expected to be greatly accelerated by this acquisition.
