03:58 PM EDT, 06/14/2024 (MT Newswires) -- Open Text ( OTEX ) on Friday said its Cloud for Government solution is now fully authorized by the U.S. Federal Risk and Authorization Management Program (FedRAMP).

The company said the federal program "promotes the adoption of secure cloud services across the federal government by providing a standardized approach to security authorization for cloud service offerings".

"The availability of FedRAMP authorized information management cloud solutions from OpenText validates our commitment to helping U.S. government agencies digitally transform how they work to deliver an intelligent total citizen experience," chief product officer Muhi Majzoub said in a release.

Open Text ( OTEX ) shares were last seen up $0.21 to $39.48 on the Toronto Stock Exchange.

Price: 39.46, Change: +0.19, Percent Change: +0.48