11:10 AM EDT, 09/11/2024 (MT Newswires) -- OpenText (OTEX.TO, OTEX) on Wednesday said it received authorization for the OpenText IT Management Platform (ITMX) from the Federal Risk and Authorization Management Program (FedRAMP).

With the authorization government agencies can now reduce Tier 1 support costs with a full-featured IT service management (ITSM) platform that is less complex and costly to deploy and manage than competitors, while accelerating application delivery through AI and automation, the company said.

"The availability of FedRAMP authorized IT service 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," said Muhi Majzoub, Chief Product Officer at OpenText. "As an important step in the government's modernization journey, the solution extends the modern, cloud-optimized benefits of IT service management to federal agencies while adhering to ever-tightening and constantly changing security requirements."

Open Text ( OTEX ) shares were last seen down $0.09 to $43.52 on the Toronto Stock Exchange.

Price: 43.51, Change: -0.10, Percent Change: -0.23