Rocket Software
{{Short description|Software company}}
{{Infobox company
| name = Rocket Software Inc.
|logo = 200px
| type = Private
| num_locations = 22 offices
| area_served = Worldwide
| key_people = Milan Shetti (President and CEO){{cite web|url=https://www.rocketsoftware.com/leadership-team |title=Our Leadership |access-date=September 4, 2024}}
| industry = Computer software
| foundation = 1990
| location = Waltham, Massachusetts, United States
| homepage = {{URL |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|date=June 2022}} Rocket operates in markets including the financial, banking, health care, government, insurance, aerospace, auto manufacturing, and retail industries.
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|date=June 2022}} Over the next three decades, the company grew both organically and through dozens of acquisitions, including Zephyr, Shadow, Aldon, and D3.{{Cite web|last=Vizard|first=Michael|date=April 14, 2021|access-date=September 13, 2024|title=Rocket Software acquires ASG Technologies to boost infrastructure management tools|url=https://venturebeat.com/business/rocket-software-acquires-asg-technologies-to-boost-infrastructure-management-tools/ |website=VentureBeat}}
In 2018, Bain Capital acquired a majority stake in the company in a deal that valued Rocket Software at nearly $2 billion.{{Cite web |first=Lucia|last=Maffei| publisher=Boston Business Journal | url=https://www.bizjournals.com/boston/news/2021/10/05/walthams-rocket-software-names-new-ceo.html | title=Waltham's Rocket Software names new CEO after 30 years| date=October 5, 2021|access-date=September 6, 2024}} Since then, the company has continued to grow through a number of acquisitions.{{Cite web |first=Aaron|last=Pressman| publisher=The Boston Globe | url=https://www.bostonglobe.com/2023/11/29/business/rocket-software-waltham-two-billion/ | title=Waltham software firm expanding with $2 billion deal| date=November 29, 2023|access-date=September 20, 2024}}
In 2021, Rocket acquired ASG Technologies, an enterprise information management and IT System Management Solutions Software provider. That same year Rocket acquired the database and tools products of Zumasys including jBASE MultiValue DB{{Cite web|last=|first=|date=14 Oct 2021|title=Rocket Software Acquires Zumasys DB & Tools|url=https://www.rocketsoftware.com/news/rocket-software-acquires-database-and-tools-products-zumasys-inc-companies-partner-drive|access-date=|website=}} and Netherlands-based development platform Uniface.{{Cite web | publisher=Rocket Software| url=https://www.rocketsoftware.com/news/rocket-software-acquires-amsterdam-based-uniface-expanding-application-platform-footprint | title=Rocket Software Acquires Amsterdam-Based Uniface, Expanding Application Platform Footprint| date=February 3, 2021|access-date=September 18, 2024}}
In November 2021, Milan Shetti was named CEO, replacing co-founder and longtime CEO Andy Youniss.
In June 2022, Rocket released the latest version of its ASG-Enterprise Orchestrator (AEO) DevOps value stream orchestration platform.{{cite web|url=https://www.yahoo.com/now/rocket-software-launches-asg-enterprise-123000002.html|title=Rocket Software Launches ASG-Enterprise Orchestrator 4.3.0 to Accelerate Delivery of Innovation|website=Yahoo! Finance|date=June 7, 2022|access-date=June 9, 2022}} In September 2022, Rocket acquired BOS, a German developer of data integration tools. The unit was renamed Rocket Data Replicate and Sync.{{Cite web|last=Sayer|first=Peter|date=January 1, 2024|access-date=September 9, 2024|title=The biggest enterprise technology M&A deals of 2023 |url=https://www.cio.com/article/1309566/the-biggest-enterprise-technology-ma-deals-of-2023.html |website=CIO}}
In 2023, Rocket acquired Key Resources, which specializes in mainframe security and vulnerability identification and assessment. 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.{{Cite web|last=Jacob|first=Denny|date=November 28, 2023|access-date=September 9, 2024|title=Open Text to Sell AMC Business to Rocket Software for $2.28 Billion in Cash |url=https://www.wsj.com/business/telecom/open-text-to-sell-amc-business-to-rocket-software-for-2-28-billion-in-cash-8b9bd5fb |website=The Wall Street Journal}} 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.{{Cite web|date=May 22, 2024|access-date=September 9, 2024|title=Rocket Software Expands Through Acquisition of OpenText's Application Modernization and Connectivity Business |url=https://www.thesoftwarereport.com/rocket-software-expands-through-acquisition-of-opentexts-application-modernization-and-connectivity-business/|website=The Software Report}}
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.{{Cite news|last=Wells|first=Joyce|date=2017-06-15|title=DBTA 100 2017|work=DBTA|url=http://www.dbta.com/Editorial/Trends-and-Applications/DBTA-100-2017---The-Companies-That-Matter-Most-in-Data-118003.aspx|access-date=2017-07-25}}
In 2017, former Rocket CEO Andy Youniss was named a New England Entrepreneur of the Year by professional services firm EY.{{Cite web|date=2017-06-28|title=Andy Youniss - Rocket Software|url=https://www.bizjournals.com/boston/feature/ey-entrepreneur-of-the-year/2017/andy-youniss-rocket-software.html|access-date=2017-07-25|website=Boston Business Journal}} Youniss was also presented the Leadership Award by Boston-based food rescue nonprofit Lovin' Spoonfuls in November 2017.{{Cite news|date=2017-11-06|title=Boston-Based Lovin Spoonfuls Gives Leadership Award to Rocket Software CEO Andy Youniss|work=BusinessWire|url=https://www.businesswire.com/news/home/20171106005005/en/Boston-Based-Lovin%E2%80%99-Spoonfuls-Leadership-Award-Rocket-Software|access-date=2018-08-07}}{{third-party inline|date=February 2021}}
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.{{Cite news|date=2017-12-04|title=Rocket Software Named Ellucian Growth Partner of the Year|work=BusinessWire|url=https://www.businesswire.com/news/home/20171204005179/en/Rocket-Software-Named-Ellucian-%E2%80%9CGrowth-Partner-Year%E2%80%9D|access-date=2018-08-07}}{{third-party inline|date=February 2021}}
In 2020, Rocket was named in Inc.'s list of America's 1,000 Largest and Most Inspiring Private Companies.{{Cite web|last=|first=|date=24 March 2020|title=Rocket Software Inc's 1000|url=https://www.inc.com/private-titans/2020.html|access-date=|website=}}
In 2023, Rocket Software received a Bronze Merit Award for Technology in the Software and Apps category.{{Cite web |publisher=Merit Awards | url=https://www.merit-awards.com/winners-technology-2023| title=2023 Winners| date=2023|access-date=September 20, 2024}} Rocket Software was also named Insider Threat Detection Platform of the Year at the 2023 CyberSecurity Breakthrough Awards.{{Cite web |publisher=Cyber Security Breakthrough | url=https://cybersecuritybreakthrough.com/2023-winners/ | title=2023 Award Winners| date=2023|access-date=September 20, 2024}}
In 2024, Rocket was honored with an Intellyx Digital Innovator Award.{{cite web|url=https://intellyx.com/2024/06/04/2024-intellyx-digital-innovator-award-winners-announced-2/ |title=2024 Intellyx Digital Innovator Award Winners Announced | first=Jason|last=English|date=June 4, 2018|access-date=September 4, 2024}} Also in 2024, Rocket Software was recognized in DBTA’s list of Top 100 Companies That Matter Most in Data.{{cite web|url=https://www.dbta.com/Editorial/Trends-and-Applications/DBTA-100-2024-The-Companies-That-Matter-Most-in-Data-164289.aspx|title=DBTA 100 2024: The Companies That Matter Most in Data| first=Stephanie|last=Simone|date=June 6, 2024|access-date=September 4, 2024}}
References
{{Reflist|2}}
External links
- {{Official website|http://www.rocketsoftware.com/}}
- [https://github.com/RocketSoftware Rocket Software] at GitHub
- {{Finance links
| name = Rocket Software Inc.
| hoovers = Rocket_Software_Inc.746fe56c2c581cf0
| google = 6446771
| bloomberg = 961644 }}
{{Rocket Software}}
Category:Software companies based in Massachusetts
Category:Information technology consulting firms of the United States
Category:Software companies of the United States
Category:1990 establishments in Massachusetts