06:20 AM EDT, 10/03/2025 (MT Newswires) -- Open Text ( OTEX ) late Thursday said it has agreed to divest an on-premise solution called eDOCS to NetDocuments for US$163 million in cash.

eDOCS is part of Open Text's ( OTEX ) Analytics product group, primarily focused on automating the work of legal professionals. The business contributed about $30 million in annual revenue in the fiscal year ended June 30.

Proceeds from the transaction will be used to reduce Open Text's ( OTEX ) outstanding debt.

Under the deal terms, the software, customer contracts, associated services and employees will be integrated into NetDocuments. The transaction is scheduled to close in early 2026, subject to customary approvals and closing conditions.

"This divestiture further enables our continued focus on growing our core business centered on secure information management for AI," said Tom Jenkins, OpenText's executive chairman of the board and chief strategy officer.