Mr. Ayman Antoun reports

OPENTEXT COMPLETES US$150 MILLION DIVESTITURE OF NON-CORE VERTICA TO ROCKET SOFTWARE

Open Text Corp. has completed its divestiture of Vertica to Rocket Software Inc., a Bain Capital portfolio company, for $150-million (U.S.) in cash before taxes, fees and other adjustments.

"This transaction is consistent with our non-core divestiture strategy and our disciplined approach to capital allocation. The divestiture of Vertica demonstrates that commitment in action, allowing us to concentrate investment in our core businesses," Ayman Antoun, chief executive officer, Open Text. "This is how we optimize to grow and deliver sustained value creation for our clients, partners and shareholders."

Open Text intends to use the net proceeds from the divestiture to reduce outstanding debt. Under the terms of the agreement, the software, client contracts, and associated services and employees will be transferred to Rocket Software.

About Open Text Corp.

Open Textis a global leader in data management for enterprise AI (artificial intelligence), helping organizations protect, govern and activate their data with confidence. The company's technologies turn data into information with context to form the knowledge base for enterprise AI.

We seek Safe Harbor.