secwatch.observer — SEC 8-K summary
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Issuer:     OPEN TEXT CORP (OTEX)
CIK:        0001002638
Form:       8-K/A
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001193125-23-287433
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OpenText sells Application Modernization & Connectivity business to Rocket Software for $2.275B
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- Base purchase price of $2,275,000,000; transaction structured as share purchase, asset transfer, and options.
- Business comprises distribution, licensing, and R&D of Transferred Products; 764 employees assumed by Buyer.
- Agreement dated November 28, 2023; closing subject to regulatory approvals and other customary conditions.
- Excluded liabilities include certain Taxes, employee benefit obligations, and specified retained matters.
- Seller representations and warranties survive closing for up to 18 months (general) or longer (fundamental).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1002638/000119312523287433/0001193125-23-287433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1002638/000119312523287433/d28925d8ka.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-287433

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer