Rocket Software now delivers one of the
market’s most comprehensive suites of modernization solutions,
enabling companies to leverage their existing solutions while also
taking advantage of cloud innovation
Rocket Software, Inc. (“Rocket Software”), a global technology
leader in modernization software, has expanded upon its position as
a partner of choice empowering the world's leading businesses on
their modernization journeys. Closing the acquisition of the
Application Modernization and Connectivity (AMC) business of
OpenText, formerly part of Micro Focus, Rocket Software now offers
customers modernization software solutions spanning the mainframe
to the cloud. With a total purchase price of $2.275 billion, before
taxes, fees and other adjustments, the deal increases the company’s
revenue by over 60% and expands its customer base to more than
12,500 companies and network to more than 750 partners worldwide.
In addition, the company welcomes more than 770 new software
engineers, go-to-market professionals and other supporting team
members and is hiring hundreds of additional Rocketeers to
complement its existing team.
“Rocket Software’s customers are global market leaders that are
constantly setting new benchmarks for excellence and innovation in
their industries that we are proud to power and advance,” said
Milan Shetti, president and CEO of Rocket Software. “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. 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.”
“The combination of OpenText’s AMC business and Rocket
Software’s highly complementary businesses will create one of the
world’s largest mainframe modernization and connectivity software
companies,” said Peter Rutten, Research Vice-President, Performance
Intensive Computing, IDC. “While many in the industry would
champion moving everything to the cloud, or never moving anything
off the mainframe, this investment shows Rocket Software’s
commitment to meeting clients wherever they are in their
modernization journey. Now Rocket Software will have a
comprehensive portfolio that allows clients to modernize their
workloads in place, move applications to the cloud or a combination
of both through a hybrid strategy, which we see most enterprises
prefer.”
With the added talent and innovation acquired from AMC, the
company has set a new bar for modernization innovation in a single
partner that:
- Offers Leading Technology for Mainframe Modernization by
building on its deep expertise and long-standing commitment to
optimizing mainframe environments to facilitate seamless, secure
and compliant solutions that meet the demands of the digital
era
- Meets Customers Wherever They Are on Their Journeys with
an unyielding grasp of the entire landscape and comprehensive range
of software solutions for any stage of modernization
- Values and Builds on Past and Current Investments by
recognizing there is a better approach to the ‘rip and replace’
playbook for modernization and instead helps customers leverage
their existing foundation for a seamless technological
evolution
- Delivers Solutions as a True Partner, Not Just a Vendor
with a 93.7% customer satisfaction rate for enterprises that demand
nothing short of excellence, and need a trusted partner
Rocket Software will integrate and continue to develop AMC
products to enhance its portfolio, helping customers stay
competitive and leverage their data, applications and
infrastructure regardless of their modernization strategy. In
addition to several complementary Host Connectivity, Application
Development and CORBA solutions, Rocket Software will also offer
COBOL and Enterprise Suite, market leading technologies that allow
companies the ability to run COBOL and PL/I applications on
distributed or cloud servers. These added capabilities expand the
mainframe modernization approaches that Rocket Software can
deliver, enabling choice and allowing customers to run workloads
wherever it makes sense for their business. This breadth, and the
ability to integrate the various approaches, allows customers to
seamlessly connect any combination of solutions across the
modernization continuum.
“Application modernization is key to digital transformation in
financial services,” said Martin Wildberger, EVP, Innovation &
Technology, RBC. “As a Rocket Software customer, we've experienced
firsthand the company’s commitment to innovation.”
“Within our organization, the need for modernization is a
dynamic process, continually evolving as we grow and scale our
business.," said José Fortemps, CTO, AG Insurance. "The OpenText
AMC solutions have served us well and, now as part of Rocket
Software, we look forward to exploring new opportunities for our
data, application and infrastructure that propels us into the
future.”
To learn more about Rocket Software and its enhanced
capabilities and solutions, click here.
About Rocket Software
Rocket Software is the global technology leader in modernization
and partner of choice that empowers the world's leading businesses
on their modernization journeys, spanning core systems to the
cloud. Trusted by over 12,500 customers and 750 partners, and with
more than 3,000 global employees, Rocket Software enables customers
to maximize their data, applications, and infrastructure to deliver
critical services that power our modern world. Rocket Software is a
privately held U.S. corporation headquartered in the Boston area
with centers of excellence strategically located throughout North
America, Europe, Asia and Australia. Rocket Software is a portfolio
company of Bain Capital Private Equity. Follow Rocket Software on
LinkedIn and Twitter or visit www.RocketSoftware.com.
Cautionary Information Regarding Forward-Looking
Statements
Some of the statements contained in this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended, including,
but not limited to, statements about our future performance,
results and operations following the acquisition of the AMC
business. These forward-looking statements are generally identified
by the use of words such as “anticipate,” “believe,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “will,” “would” and, in
each case, their negative or other various or comparable
terminology. These forward-looking statements reflect our views
with respect to future events as of the date of this press release
and are based on our current expectations, estimates, forecasts,
projections, assumptions, beliefs and information. Although
management believes that the expectations reflected in these
forward-looking statements are reasonable, it can give no assurance
that these expectations will prove to have been correct. All such
forward-looking statements are subject to risks and uncertainties,
many of which are outside of our control, and could cause future
events or results to be materially different from those stated or
implied in this press release. Such factors and risks include, but
are not limited to, risks related to our ability to successfully
integrate the AMC business and realize the expected synergies and
certain other risks. It is not possible to predict or identify all
such risks. We expressly disclaim any obligation to publicly update
or review any forward-looking statements, whether as a result of
new information, future developments or otherwise, except as
required by applicable law.
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