News Summary

OpenText, a Kitchener-Waterloo-based enterprise software company, has announced the sale of its non-core eDOCS unit to Utah-based NetDocuments for $163 million USD in cash. The decision to sell comes as part of OpenText’s strategy to focus on its core business of information management for artificial intelligence and reduce its debt. The eDOCS business, which supports legal professionals with document management, contributed approximately $30 million in revenue to OpenText’s latest fiscal year. The transaction, expected to close by early 2026, includes the integration of eDOCS software, customer contracts, services, and employees into NetDocuments. This move is part of OpenText’s three-year business optimization plan, which has also seen changes in executive leadership, including the replacement of its longstanding CEO. The company, founded in 1991, continues to adapt by introducing cloud and AI services in its offerings.