Adversaries are taking advantage of weak security fundamentals and a lack of countermeasures to carry out cyberattacks WATERLOO, ON, Sept. 27, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today released the results of its 2024 Threat Hunter Perspective. The report found that the collaboration and coordination taking place between nation-states and cybercrime rings to target global supply chains and further geopolitical motives has become a signature trend in the threat landscape. For CISOs, th ...

WATERLOO, ON, Sept. 12, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX, TSX: OTEX) confirmed today that the nominees listed below were re-elected by shareholders at its annual meeting of shareholders (the "Meeting") held virtually today. The detailed results of the vote for the election of directors at the Meeting are set out below. Shareholders holding 221,529,725 common shares of the Company representing 82.60% of the outstanding common shares were present or represented by proxy at the Meeting. ...

New FedRAMP authorized solution provides government organizations a simpler way to deliver IT services WATERLOO, ON, Sept. 11, 2024 /PRNewswire/ -- OpenText (NASDAQ: OTEX, TSX: OTEX) today announced it has received authorization for the OpenText IT Management Platform (ITMX) from the Federal Risk and Authorization Management Program (FedRAMP®), advancing OpenText's commitment to providing comprehensive and modern, government-compliant and secure cloud solutions. With ITMX, government agencies can reduce Tie ...

WATERLOO, ON, Sept. 9, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX) (TSX: OTEX) today announced that OpenText has been named a Leader in the IDC MarketScape: Worldwide Intelligent Content Services2024 Vendor Assessment (doc #US51467323, September 2024). According to the IDC MarketScape, "OpenText Content Cloud connects content to the digital business, eliminating silos and providing convenient, secure, and compliant remote access to both structured and unstructured data capabilities. Capabilities include I ...

Virtual Summit to Feature Renowned Customer Speakers and In-Depth Sessions on the Future of Data Analytics WATERLOO, ON, Sept. 6, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced the upcoming OpenText Analytics Digital Summit 2024, a premier virtual event that brings together industry leaders, data experts and technology innovators from around the globe. This year's Summit, which will be held Sept. 10-11, highlights the transformative power of AI and analytics, featuring a disting ...

Company and Industry Overview * **Company**: Open Text Corporation (NASDAQ: OTEX) * **Industry**: Information Management, Content Management, Cybersecurity, Business Networks, IT Operations Management, Application Automation, Analytics Key Points and Arguments 1. **Company Transformation and Focus**: * OpenText has undergone significant changes, including acquiring Micro Focus, divesting parts of Micro Focus, and restructuring. * The company now focuses on information management, with a strong emphasis on cloud-based solutions. * Cloud bookings growth is a key indicator of future revenue growth. 2. **Product Groups and Markets**: * OpenText's revenue is divided into several product groups: content (40%), cybersecurity (20%), business network (10%), IT operations management (10%), application automation (15%), and analytics (5%). * Cloud is a key driver of growth across all product groups. 3. **Growth Drivers**: * Cloud bookings growth (25% in fiscal '25) * Expansion of existing product groups (e.g., content, cybersecurity) * New use cases and applications for AI and cloud solutions 4. **Optimization Initiatives**: * OpenText implemented a 2% reduction in force (RIF) to improve efficiency and focus on core competencies. * The company is reinvesting in sales, professional services, and renewal management to drive growth. 5. **Leadership Changes**: * Madhu Ranganathan was promoted to President, CFO, and Corporate Development. * New go-to-market leaders have been appointed to drive sales and cloud adoption. 6. **AI and Cloud**: * AI is a key growth driver for OpenText, with customers seeking solutions to prepare for and leverage AI. * OpenText's Aviator AI products are being integrated into various product groups. 7. **Macroeconomic Environment**: * OpenText's solutions are mission-critical for enterprises, making the company resilient to macroeconomic fluctuations. * The company assumes no improvement in interest rates or currency exchange rates for its financial modeling. 8. **Segment Performance**: * Content and cybersecurity are performing well. * IT operations management is in the early stages of growth. 9. **Q4 Performance**: * The company missed license revenue targets in Q4 due to lost selling time related to the Micro Focus divestiture. * Cloud organic growth was strong in Q4, and the company expects continued growth in fiscal '25. 10. **Capital Allocation**: * OpenText prioritizes share repurchases, dividends, debt reduction, and selective M&A for capital allocation. * The company aims to achieve a net leverage ratio of 2.9x. 11. **OpenText World Conference**: * The conference in November will showcase product innovation, growth strategy, and cloud operations. Additional Important Points * OpenText's cloud gross margin is expected to improve from 59% in Q4 to the low 60s in fiscal '25. * The company expects to generate $1.2 billion to $1.3 billion in free cash flow in fiscal '25. * OpenText remains undervalued and is a strong buy according to the company.

OpenText's (OTEX) Content Cloud and Extended ECM for Engineering solutions are set to optimize processes of Serica Energy. Serica Energy is among the top 10 oil and gas producing companies in the U.K. The collaboration will aid Serica Energy in ensuring the content security necessary for safe operations in the U.K. OpenText's Content Cloud and Extended ECM for Engineering offer a portfolio of comprehensive enterprise content management solutions that enable organizations to streamline, automate and simplify ...

Core Insights - Pick n Pay Group has partnered with OpenText to enhance its software testing processes, achieving 95% automation in testing and reducing testing times by up to three days, which significantly improves digital services for ecommerce customers [1][5][6] Group 1: Partnership and Technology Integration - The integration of OpenText's cloud-based ValueEdge and DevOps platform with OpenText DevOps Aviator allows Pick n Pay to meet increasing customer demand for innovative digital shopping tools [2] - OpenText DevOps Aviator has transformed Pick n Pay's testing processes, enhancing visibility across projects and methodologies, and improving accuracy, security, and efficiency [3][5] Group 2: Performance Metrics - During testing of 45 features, OpenText DevOps Aviator matched manual tester output 80% of the time and improved testing coverage by 20% on platform-specific scenarios [3] - Quality assurance and system integration testing increased by 95%, surpassing Pick n Pay's standard goals of 75% to 80% [5] Group 3: Competitive Advantage - OpenText DevOps Aviator outperformed a leading public AI platform in testing scenarios due to its ability to learn from private data, ensuring robust data protection [4] - The automation introduced by OpenText DevOps Aviator reduces wait times for manual testing and provides immediate test case suggestions, cutting training time for junior testers by six weeks [6] Group 4: Future Outlook - Pick n Pay plans to further enhance automation over the next 12 to 18 months by integrating assets into one platform with OpenText [8] - The partnership with OpenText is expected to drive interest in adopting this technology beyond the initial phase, contributing to the ongoing AI-driven transformation [7][8]

Core Insights - OpenText has launched OpenText Axcelerate with Aviator, an innovative eDiscovery platform that utilizes Large Language Models (LLMs) to enhance legal professionals' productivity and decision-making capabilities [1][3] - The legal industry is increasingly adopting AI solutions for e-discovery, with 54% of corporate legal teams planning to use AI to focus on high-value tasks, and 52% aiming to improve decision-making [2] - Axcelerate with Aviator aims to automate document review processes, providing faster access to critical information and reducing eDiscovery costs [3][4] Company Developments - OpenText is participating in ILTACON 2024, showcasing its advancements in legal technology, including the Axcelerate with Aviator platform [5][6] - The company emphasizes the integration of generative AI in its solutions to support various legal tasks, including eDiscovery, compliance, and contract intelligence [6] Industry Trends - The demand for efficient e-discovery solutions is at an all-time high, driven by the need for legal teams to manage complex regulatory environments and client expectations [2][4] - Generative AI is transforming the legal landscape by enabling faster fact-finding, enhancing efficiency through automation, and providing cost certainty for legal operations [4]

Financial Performance & Targets - OpenText's Fiscal Year 2024 (F'24) total revenue reached $5.77 billion, representing a 29% year-over-year (y/y) growth[6] - Cloud revenue for F'24 was $1.82 billion, a 7% y/y increase[6] - Adjusted EBITDA (A-EBITDA) for F'24 amounted to $1.97 billion, reflecting a 34% y/y growth[6] - The company targets A-EBITDA margin range of 33% to 34% for Fiscal Year 2025 (F'25), 35% to 36% for F'26, and 36% to 38% for F'27[6,16] - OpenText anticipates a return of capital exceeding $570 million in F'25, which is a 37% y/y increase[6,16] Capital Allocation - OpenText plans to repurchase $300 million in shares in F'25, a 100% y/y increase[6,16] - The company intends to increase annualized dividends per share from $1.00 to $1.05, estimating a total of $270 million in dividend payments[6,16] - In F'24, OpenText returned $417 million to shareholders, including $267 million in dividends and $150 million in share repurchases[6] Fiscal Year 2025 (F'25) Outlook - OpenText projects total revenue between $5.3 billion and $5.4 billion for F'25[20] - The company expects cloud revenue to range from $1.85 billion to $1.90 billion in F'25[20] - Free cash flow is targeted between $575 million and $625 million for F'25, after accounting for a one-time cash tax payment of approximately $250 million related to the AMC divestiture[20] Q4 F'24 Results - Cloud revenue for Q4 F'24 was $465 million, a 3% increase compared to Q4 F'23[9] - Total revenue for Q4 F'24 was $1.362 billion, a 9% decrease compared to Q4 F'23[9] - Free cash flow for Q4 F'24 was $145 million, a 59% increase compared to Q4 F'23[9]