By Katherine Hamilton
OpenText has agreed to divest a part of its analytics portfolio to NetDocuments for $163 million in cash.
The business, known as eDOCS, is primarily focused on automating the work of legal professionals, OpenText said Thursday. It contributed about $30 million in annual revenue during the year ended June 30.
OpenText plans to use the proceeds from the sale to reduce its outstanding debt, it said. The Waterloo, Ontario, company is also trying to focus on its core business centered around secure information management for AI.
The deal is expected to close by early 2026.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
By Katherine Hamilton
Open Text has agreed to divest a part of its analytics portfolio to NetDocuments for $163 million in cash.
The business, known as eDOCS, is primarily focused on automating the work of legal professionals, Open Text said Thursday. It contributed about $30 million in annual revenue during the year ended June 30.
Open Text plans to use the proceeds from the sale to reduce its outstanding debt, it said. The Waterloo, Ontario, company is also trying to focus on its core business centered around secure information management for AI.
The deal is expected to close by early 2026.
In August, Open Text said it was exploring "portfolio-shaping opportunities" to focus more on its core business, which could involve selling off non-core assets.
The board also ousted its long-time chief executive in August, following the exit of its chief financial officer after less than five months on the job. Earlier on Thursday, Open Text named former BlackBerry Chief Financial Officer Steve Rai as its new finance head.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
October 02, 2025 18:09 ET (22:09 GMT)
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