An asset that has long-term financial worth to a business but has no physical presence yet offers substantial value is known as an "intangible asset". Intangible assets that can be separated from other assets and sold by the company are considered identifiable intangible assets. Intellectual property like patents, trademarks, copyrights, and even non-cash government grants like landing rights at airports or broadcasting licenses are examples of identifiable intangible assets. These assets are being straight-line-amortized at their estimated fair values that were recorded at the acquisition date across their respective expected useful lifetimes.
Open Text Corp’s gross value of intangible assets dipped from $1,003.73 million in FY2021 to $999.03 million in FY2022. In FY2022, the company's net value of intangible assets was $1,075.21 million. Customer assets and Technology Assets amounted to $1,595.22 million, and $999.03 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $198.61 million in FY2022.
In FY22, the amortization of acquired technology-based intangible assets decreased by $20.2 million compared to the previous fiscal year. This was due to a reduction of $27.9 million in intangible assets from previous acquisitions having fully amortized, which was slightly offset by a rise of $7.7 million in newly acquired customer-based intangible assets from recent acquisitions being amortized. Revenues from cloud services and subscriptions increased by $127.6 million or 9.1% in the fiscal year that ended in 2022, when compared to the previous fiscal year, primarily driven by the impact of recent acquisitions, along with organic growth over the comparative period.
Open Text Corp (OpenText) is a provider of information management software solutions and services for global companies, small and medium-sized businesses (SMBs), consumers, and governments. The company’s major products and solutions include business networks, enterprise content management, digital process automation, digital experience, AI and analytics, and security. It also provides services such as consulting, hosting, training and managed services. The company serves a range of industries, including automotive, consumer goods, education, energy, legal, manufacturing, financial services, government, insurance, media, healthcare, and telecommunications. The company has a business presence across Asia Pacific, Europe, the Middle East, Africa, and the Americas.
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
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Japan
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