Bain Capital-backed Rocket Software completed the acquisition of application modernization and connectivity business from OpenText for $2.3bn.

Bain Capital-backed Rocket Software, a software development firm that offers enterprise infrastructure products and various related services, completed the acquisition of application modernization and connectivity business from OpenText, a Canadian company that develops and sells enterprise information management software, for $2.3bn. “We are proud to be the preferred partner dedicated to meeting our customers at any point in their modernization journeys and minimizing unnecessary risk to their business operations. For the many enterprise organizations who are built on the mainframe and ready to unlock opportunity using hybrid cloud, reality calls for a continuum with solutions and expertise that span both worlds. Welcoming the AMC business and its talented team to Rocket Software marks an extraordinary moment for the company, the market, and the thousands of organizations who share in our vision of making the best-of-both-worlds a reality,” Milan Shetti, Rocket Software President and CEO.