Rocket Software

Last updated
Rocket Software Inc.
Company type Private
Industry Computer software
Founded1990
Headquarters Waltham, Massachusetts, United States
Number of locations
22 offices
Area served
Worldwide
Key people
Milan Shetti (President and CEO) [1]
Number of employees
3,000+ [2]
Website www.rocketsoftware.com

Rocket Software is a privately held software development firm founded in 1990. Using the IBM Z, IBM Power, and embedded database platforms, Rocket provides predictive analytics with deep data, develops AI and machine learning capabilities, and designs mobile and browser applications. Its software runs on multiple platforms and operating systems, including mainframe, IBM z/OS, IBM i, UNIX, Windows and other platforms and offers tools to access non-SQL data with standard SQL queries.[ citation needed ] Rocket operates in markets including the financial, banking, health care, government, insurance, aerospace, auto manufacturing, and retail industries.

Contents

Rocket has a business partnership with IBM that began in 1994 with a licensing agreement for Rocket QMF tools. Since 2018, Bain Capital has owned a majority stake in the company. Rocket is headquartered in Waltham, Massachusetts, USA.

History

Rocket Software was founded in Boston in 1990 by Andy Youniss and Johan Magnusson Gedda with a focus on IBM DB2 tools.[ citation needed ] Over the next three decades, the company grew both organically and through dozens of acquisitions, including Zephyr, Shadow, Aldon, and D3. [3]

In 2018, Bain Capital acquired a majority stake in the company in a deal that valued Rocket Software at nearly $2 billion. [4] Since then, the company has continued to grow through a number of acquisitions. [5]

In 2021, Rocket acquired ASG Technologies, an enterprise information management and IT System Management Solutions Software provider. [3] That same year Rocket acquired the database and tools products of Zumasys including jBASE MultiValue DB [6] and Netherlands-based development platform Uniface. [7]

In November 2021, Milan Shetti was named CEO, replacing co-founder and longtime CEO Andy Youniss. [4]

In June 2022, Rocket released the latest version of its ASG-Enterprise Orchestrator (AEO) DevOps value stream orchestration platform. [8] In September 2022, Rocket acquired BOS, a German developer of data integration tools. The unit was renamed Rocket Data Replicate and Sync. [9]

In 2023, Rocket acquired Key Resources, which specializes in mainframe security and vulnerability identification and assessment. [9] In November 2023, Rocket agreed to buy OpenText’s Application Modernization and Connectivity (AMC) business for $2.28 billion in cash. Under the agreement, AMC’s software, associated services and about 750 employees were integrated into Rocket Software. [10] The deal, which was completed in May 2024, increased Rocket Software’s revenue by 60% and grew its customer base to greater than 12,500 companies. [11]

Reception

Since 2013 when the list was inaugurated, Rocket was included in Database Trends and Applications magazine's annual “DBTA 100,” a list of the companies that matter most in data. [12]

In 2017, former Rocket CEO Andy Youniss was named a New England Entrepreneur of the Year by professional services firm EY. [13] Youniss was also presented the Leadership Award by Boston-based food rescue nonprofit Lovin' Spoonfuls in November 2017. [14] [ third-party source needed ]

In December 2017, Rocket was named Ellucian Growth Partner of the Year for providing support to the higher education IT services company in its transition to its current cloud-based service offerings and SaaS licensing model. [15] [ third-party source needed ]

In 2020, Rocket was named in Inc.'s list of America's 1,000 Largest and Most Inspiring Private Companies. [16]

In 2023, Rocket Software received a Bronze Merit Award for Technology in the Software and Apps category. [17] Rocket Software was also named Insider Threat Detection Platform of the Year at the 2023 CyberSecurity Breakthrough Awards. [18]

In 2024, Rocket was honored with an Intellyx Digital Innovator Award. [19] Also in 2024, Rocket Software was recognized in DBTA’s list of Top 100 Companies That Matter Most in Data. [20]

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References

  1. ↑ "Our Leadership" . Retrieved September 4, 2024.
  2. ↑ "Rocket Software Closes $2.275B Acquisition of OpenText's Application Modernization and Connectivity Business". Financial Post. May 1, 2024. Retrieved September 18, 2024.
  3. 1 2 Vizard, Michael (April 14, 2021). "Rocket Software acquires ASG Technologies to boost infrastructure management tools". VentureBeat . Retrieved September 13, 2024.
  4. 1 2 Maffei, Lucia (October 5, 2021). "Waltham's Rocket Software names new CEO after 30 years". Boston Business Journal . Retrieved September 6, 2024.
  5. ↑ Pressman, Aaron (November 29, 2023). "Waltham software firm expanding with $2 billion deal". The Boston Globe . Retrieved September 20, 2024.
  6. ↑ "Rocket Software Acquires Zumasys DB & Tools". 14 Oct 2021.
  7. ↑ "Rocket Software Acquires Amsterdam-Based Uniface, Expanding Application Platform Footprint". Rocket Software. February 3, 2021. Retrieved September 18, 2024.
  8. ↑ "Rocket Software Launches ASG-Enterprise Orchestrator 4.3.0 to Accelerate Delivery of Innovation". Yahoo! Finance. June 7, 2022. Retrieved June 9, 2022.
  9. 1 2 Sayer, Peter (January 1, 2024). "The biggest enterprise technology M&A deals of 2023". CIO (magazine) . Retrieved September 9, 2024.
  10. ↑ Jacob, Denny (November 28, 2023). "Open Text to Sell AMC Business to Rocket Software for $2.28 Billion in Cash". The Wall Street Journal . Retrieved September 9, 2024.
  11. ↑ "Rocket Software Expands Through Acquisition of OpenText's Application Modernization and Connectivity Business". The Software Report. May 22, 2024. Retrieved September 9, 2024.
  12. ↑ Wells, Joyce (2017-06-15). "DBTA 100 2017". DBTA. Retrieved 2017-07-25.
  13. ↑ "Andy Youniss - Rocket Software". Boston Business Journal. 2017-06-28. Retrieved 2017-07-25.
  14. ↑ "Boston-Based Lovin Spoonfuls Gives Leadership Award to Rocket Software CEO Andy Youniss". BusinessWire. 2017-11-06. Retrieved 2018-08-07.
  15. ↑ "Rocket Software Named Ellucian Growth Partner of the Year". BusinessWire. 2017-12-04. Retrieved 2018-08-07.
  16. ↑ "Rocket Software Inc's 1000". 24 March 2020.
  17. ↑ "2023 Winners". Merit Awards. 2023. Retrieved September 20, 2024.
  18. ↑ "2023 Award Winners". Cyber Security Breakthrough. 2023. Retrieved September 20, 2024.
  19. ↑ English, Jason (June 4, 2018). "2024 Intellyx Digital Innovator Award Winners Announced" . Retrieved September 4, 2024.
  20. ↑ Simone, Stephanie (June 6, 2024). "DBTA 100 2024: The Companies That Matter Most in Data" . Retrieved September 4, 2024.
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