Rocket Software has entered into a definitive agreement to acquire the Vertica analytics database from OpenText, enhancing its modernization software offerings and positioning itself for future growth.

Information on the Target

Rocket Software, a prominent player in modernization software and a portfolio company under Bain Capital Private Equity, has reached a definitive agreement to acquire the Vertica analytics database from OpenText (Nasdaq: OTEX) (TSX: OTEX). This acquisition is a strategic move for Rocket Software, which aims to enhance its offerings by integrating advanced analytics capabilities into its existing suite of modernization solutions. Through this acquisition, Rocket Software seeks to facilitate the transition of its customers' core systems and data to contemporary platforms while maintaining operational continuity.

Industry Overview in the Target’s Specific Country

The modernization software industry is rapidly evolving, driven by the increasing necessity for organizations to adapt to digital transformation trends. In the United States, where Rocket Software is predominantly based, the demand for modernization software is surging as businesses strive to optimize their operations and leverage advanced technologies such as artificial intelligence (AI) and big data analytics.

The United States has witnessed unprecedented growth in the analytics sector, primarily due to the skyrocketing volume of data generated daily. Companies are increasingly recognizing the importance of d