OpenText sells non-core business to NetDocuments for US$163 million

TORONTO - Open Text Corp. says it has signed a deal to sell part of its analytics portfolio to NetDocuments for US$163 million in cash. The company says the business being sold is focused on automating the work of legal professionals.  OpenText plans to use the proceeds of the sale to reduce debt. Tom Jenkins , OpenText executive chairman and chief strategy officer, says the sale helps strengthen the company's focus on businesses that will drive its future revenue growth. Under the terms of the agreement, the software, customer contracts, associated services and employees will be integrated into NetDocuments. The sale is expected to close by early 2026, subject to customary approvals and closing conditions. This report by The Canadian Press was first published Oct. 3, 2025. Companies in this story: (TSX:OTEX)