{"schema_version":"secwatch.filing_event.v1","accession":"0001002638-24-000015","form_type":"8-K","ticker":"OTEX","cik":"0001002638","company_name":"OPEN TEXT CORP","filed_at":"2024-05-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:16.804571+00:00","generated_at":"2026-06-03T01:44:25.903075+00:00","sec_items":["2.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"OpenText closes $2.275B divestiture of AMC business to Rocket Software, plans $2B debt reduction","bullets":["Completed sale of Application Modernization & Connectivity (AMC) business to Rocket Software for $2.275B in cash, before taxes and fees.","Proceeds to repay ~$2.0B of Term Loan B and Acquisition Term Loan; net leverage target under 3x.","Pro forma FY2023 revenue of $4.26B (down from $4.48B) reflecting removal of AMC; pro forma net income $476M.","Transaction closed May 1, 2024; additional Fiscal 2024 impact to be detailed on May 2 earnings call.","CEO says focus shifts to cloud, security, AI; capital allocation program for shareholders to expand."],"urls":{"canonical":"https://secwatch.observer/filing/0001002638-24-000015","json":"https://secwatch.observer/filing/0001002638-24-000015.json","markdown":"https://secwatch.observer/filing/0001002638-24-000015.md","text":"https://secwatch.observer/filing/0001002638-24-000015.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1002638/000100263824000015/0001002638-24-000015-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1002638/000100263824000015/otex-20240501.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T01:44:25.903075+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c81d26fc6401983a9bf0a87a36c937a03a0c3f96","claim":"OPEN TEXT CORP completed a disposition involving Rocket Software, Inc. and Rocket Software UK Limited (collectively, Rocket) for all-cash purchase price of US$2.275 billion, before taxes, fees and other adjustments (closed 2024-05-01).","evidence_excerpt":"generally assume all liabilities related to the AMC Group, subject to certain exceptions (such transactions collectively, the “Transaction”), for an all-cash purchase price of US$2.275 billion, before taxes, fees and other adjustments. The Company intends to use the net proceeds from the Transaction to prepay outstanding principal balances on the Company’s Term Loan B","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1002638/000100263824000015/0001002638-24-000015-index.htm","confidence":0.99,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Rocket Software, Inc. and Rocket Software UK Limited (collectively, Rocket)"},{"label":"Consideration","value":"all-cash purchase price of US$2.275 billion, before taxes, fees and other adjustments"},{"label":"Closing","value":"2024-05-01"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}