Open Text (OTEX) announced another non-core divestiture, selling eDOCS to NetDocuments for $163M. The deal sheds $30M in revenue (sub-1%) and tightens the focus on its cloud business…

… and financial position, with the proceeds earmarked for leverage reduction.

The sell-down continues the company’s shift away from the former CEO’s M&A focused growth strategy…

… a narrative the market appears to be warming up to, with the stock up nearly 30% since new leader James McGourlay took over in August.

You might be interested in…

Disclaimer: Content on this site, including research reports, is provided by Bullpen Finance Inc. for informational purposes only and does not constitute investment advice. Bullpen Finance Inc. receives compensation from issuers for research coverage; such compensation does not influence opinions expressed. For complete disclosures, please see our Legal & Disclosures section.