Key Takeaways
- • Rocket Software, a Bain Capital portfolio company, is acquiring Vertica, an analytics database platform, from Open Text for US$150 million in cash.
- • Vertica generated approximately US$80 million in annual revenue during Open Text's fiscal year ended June 30, 2025, representing a non-core asset for the divesting company.
- • Rocket Software will fund the acquisition from its balance sheet, with the transaction expected to close in the middle of calendar year 2026.
- • The acquisition expands Rocket Software's high-performance analytics and AI capabilities for mission-critical systems, adding approximately 170 Vertica employees to the combined organization.
- • Kirkland & Ellis advised Rocket Software on the definitive agreement, with Open Text intending to redeploy divestiture proceeds toward other strategic priorities.
Summary
Bain Capital-backed Rocket Software has agreed to acquire Vertica, an analytics database platform, from Open Text for US$150 million in cash on a pre-tax basis. The transaction represents a strategic divestiture for Open Text, which classified Vertica as a non-core structured data analytics asset. According to Open Text's fiscal reporting, Vertica contributed approximately US$80 million in annual revenue during the twelve-month period ended June 30, 2025, making it a meaningful but non-essential component of Open Text's broader data management portfolio.
The acquisition advances Rocket Software's positioning in high-performance analytics and artificial intelligence infrastructure serving mission-critical systems. Rocket Software, a established provider of infrastructure software tools and applications within the Bain Capital portfolio, will integrate Vertica's capabilities and technical team—approximately 170 employees—into its existing operations. The company intends to fund the acquisition entirely from cash on its balance sheet, avoiding debt financing or external capital raises.
The transaction is expected to close during the middle of calendar year 2026. Kirkland & Ellis served as legal counsel to Rocket Software on the definitive agreement. Open Text indicated that proceeds from the divestiture will be redeployed toward other strategic initiatives, as Vertica's non-core classification suggested limited alignment with the company's longer-term enterprise data management and AI-focused strategy.
The acquisition advances Rocket Software's positioning in high-performance analytics and artificial intelligence infrastructure serving mission-critical systems. Rocket Software, a established provider of infrastructure software tools and applications within the Bain Capital portfolio, will integrate Vertica's capabilities and technical team—approximately 170 employees—into its existing operations. The company intends to fund the acquisition entirely from cash on its balance sheet, avoiding debt financing or external capital raises.
The transaction is expected to close during the middle of calendar year 2026. Kirkland & Ellis served as legal counsel to Rocket Software on the definitive agreement. Open Text indicated that proceeds from the divestiture will be redeployed toward other strategic initiatives, as Vertica's non-core classification suggested limited alignment with the company's longer-term enterprise data management and AI-focused strategy.
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