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ACQUISITIONS AND DIVESTITURES
 9 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS AND DIVESTITURES ACQUISITIONS AND DIVESTITURES
Proposed Divestiture of Vertica Business
On February 2, 2026, the Company entered into an agreement to divest Vertica, a part of its Analytics product category, to Rocket Software, for $150.0 million in cash before taxes, fees and other adjustments. The transaction remains subject to customary approvals and closing conditions and is expected to close during Fiscal 2026.
As of March 31, 2026, the Company determined that the assets and liabilities of the Vertica business met the criteria for held for sale classification and the respective assets and liabilities have been reclassified to Assets held for sale and Liabilities held for sale reported in our Condensed Consolidated Balance Sheets. The Company has determined that the Vertica business does not constitute as a component, as its operations and cash flows cannot be clearly distinguished from the rest of the Company’s operations and cash flows due to significant shared costs, therefore, the transaction does not meet the discontinued operations criteria, and the results of operations from the Vertica business are presented within Income from operations in our Condensed Consolidated Statements of Income. The Company expects that the sale proceeds less costs to sell will exceed the carrying value of the net assets for the Vertica business. The carrying value is subject to change based on developments leading up to the closing date.
The following are classified as held for sale in the Condensed Consolidated Balance Sheets in connection with the proposed divestiture of our Vertica business. The following balances incorporate the use of management estimates and are subject to change based on developments leading up to the closing date of the transaction.
As of March 31, 2026
Assets held for sale
Accounts receivable trade, net of allowance for credit losses$14,993 
Contract assets5,810 
Prepaid expenses and other current assets522 
Property and equipment
755 
Operating lease right of use assets
62 
Long-term contract assets3,831 
Goodwill107,765 
Acquired intangible assets38,338 
Other assets724 
Total Assets held for sale$172,800 
Liabilities held for sale
Accounts payable and accrued liabilities$329 
Operating lease liabilities25 
Deferred revenues18,843 
Pension liability, net451 
Long-term operating lease liabilities32 
Long-term deferred revenues4,735 
Deferred tax liabilities4,782 
Total Liabilities held for sale
$29,197 
Beginning in Fiscal 2026, the Company presents deferred tax assets and liabilities associated with transactions structured as share sales within Assets held for sale or Liabilities held for sale.
Divestiture of eDOCS Business
On January 12, 2026, the Company completed the sale of its eDOCS business to NetDocuments Software, Inc. (NetDocuments), for $163.0 million in cash before taxes, fees and other adjustments. The results of the eDOCS business were recorded and presented within our Condensed Consolidated Financial Statements during Fiscal 2026 from July 1, 2025 through January 11, 2026. In connection with the sale, a gain of $64.3 million was recorded in Other income (expense), net within our Condensed Consolidated Statements of Income for the quarter ended March 31, 2026.
The Company determined that the eDOCS business does not constitute a component, as its operations and cash flows cannot be clearly distinguished from the rest of the Company’s operations and cash flows due to significant shared costs; therefore, the transaction does not meet the discontinued operations criteria, and the results of operations from the eDOCS business are presented within Income from operations in our Condensed Consolidated Statements of Income.
The Company used the proceeds from the transaction to prepay $163.0 million of the outstanding principal balance of the Acquisition Term Loan. See Note 9 “Long-Term Debt” for more information. The Company has also agreed to provide certain transition services to NetDocuments following completion of the divestiture for up to 12 months, which are included in financing activities on the Consolidated Statements of Cash Flows. These transition service costs are reimbursable by NetDocuments. For the three and nine months ended March 31, 2026, we billed NetDocuments $0.7 million under a transition service agreement (TSA).
The following table presents the carrying amounts of major classes of assets and liabilities disposed of in the eDOCS divestiture on January 12, 2026:
Assets
Accounts receivable trade, net of allowance for credit losses$4,755 
Prepaid expenses and other current assets51 
Property and equipment
24 
Goodwill91,913 
Long-term deferred tax assets
17,735 
Total Assets $114,478 
Liabilities
Accounts payable and accrued liabilities$224 
Deferred revenues15,595 
Pension liability, net91 
Total Liabilities $15,910 
Divestiture of AMC Business
On May 1, 2024, the Company completed the AMC Divestiture. In connection with the AMC Divestiture, the Company entered into a TSA with Rocket Software, for which transition service costs were reimbursable by Rocket Software. For the three and nine months ended March 31, 2025, the Company billed Rocket Software $4.2 million and $31.4 million, respectively, under the TSA. All transition services pursuant to the TSA with Rocket Software were completed as of June 30, 2025.