Kirkland & Ellis advised Bain Capital Private Equity portfolio company Rocket Software, Inc., a global technology leader driving modernization for the world’s largest companies, on its definitive agreement to acquire the Application Modernization and Connectivity business of OpenText (NASDAQ: OTEX) (TSX: OTEX), for a total purchase price of $2.275 billion. The combined entity will offer a compelling portfolio of solutions to support the world’s largest companies in their modernization and hybrid cloud journeys. The deal is expected to close in Q2 2024, subject to receipt of applicable regulatory approvals and other customary closing conditions.
The Kirkland team was led by corporate partners Chris Elder, Matthew O’Brien and Andrew Struckmeyer and associate Zoe Quick; technology & IP transactions partners Martin Schwertmann and Vladimir Khodosh and associate Derek Ventling; debt finance partners Andrew Idrizovic and Lee Discher and associate Matt Stummer; capital markets partners Sophia Hudson, Julia Danforth and Alborz Tolou; tax partners Polina Liberman, Mike Carew and Alan Walker; and executive compensation partner Deidre Kalenderian.
