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Rocket Software
Rocket Software
from Wikipedia

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.

Key Information

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

[edit]

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

[edit]

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][independent 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][independent 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]

References

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from Grokipedia
Rocket Software is a privately held American software company founded in 1990 by two engineers in , where it maintains its global . The company specializes in IT modernization solutions for mission-critical legacy systems, enabling organizations to integrate mainframe, distributed, and technologies without disruption. With over 3,000 employees and more than 12,500 customers across industries like , Rocket focuses on hybrid infrastructure, , and compliance, and workforce to drive efficiency and innovation. Since its inception, Rocket Software has expanded through strategic acquisitions and investments, including a majority stake acquired by in 2018 for approximately $2 billion, which fueled growth in application modernization and connectivity offerings. In May 2024, it completed a $2.275 billion acquisition of OpenText's application modernization and connectivity business, enhancing its portfolio for and tools. By 2025, the company reported serving global enterprises with a 93.7% rate and was named a Challenger in the for Service Orchestration and Automation Platforms. As of early 2025, is exploring a potential sale of Rocket, which could value it at up to $10 billion. Rocket's solutions emphasize seamless integration of legacy platforms like and Power with modern AI, GenAI, and ARM-compatible technologies, helping clients achieve high ROI—such as 116% with its Secure Host Access product—while ensuring compliance and scalability. The company's commitment to empathy, trust, and innovation has positioned it as a key partner for over 35 years in tackling complex IT challenges for leading businesses worldwide.

Overview

Company profile

Rocket Software is an American multinational software company founded in 1990 and headquartered in Waltham, Massachusetts. As of 2025, the company employs more than 3,200 people globally and serves over 12,500 customers, including 43 of the Fortune 50. Rocket Software specializes in the development of solutions designed for mainframes, systems, multi-value databases, and hybrid cloud environments. Its core focus is on IT modernization, enabling organizations to optimize legacy systems, enhance data connectivity, and integrate modern technologies without disruption. The company has achieved this scale through steady organic growth and strategic acquisitions over its history. The firm primarily serves key industries such as , healthcare, , and , where mission-critical systems demand reliable modernization and security. As of 2025, by partnering with over 750 technology providers, Rocket Software supports these sectors in leveraging their existing infrastructure for AI, , and cloud-based innovation.

Mission and values

Rocket Software's mission is to create a people-first that modernizes mission-critical to positively impact customers and the world. Since its founding in 1990, the company has been driven by a vision to build a different kind of software organization, one that empowers innovative businesses through cutting-edge solutions while prioritizing human-centered approaches. This mission emphasizes seamless IT modernization that enhances without causing disruptions, allowing organizations to leverage legacy systems alongside emerging technologies. At the core of Rocket Software's operations are its four guiding values: , Humanity, Trust, and Love. Empathy involves listening to and understanding customers' unique challenges to deliver tailored solutions. Humanity places people first in all activities, fostering an inclusive environment where employees and partners can thrive. Trust is built through partnerships rooted in mutual and shared objectives, while Love reflects a deep passion for the work and a commitment to generating positive societal impact. These values underpin an employee-centric culture that encourages strong collaborations and innovation from every team member. Rocket Software demonstrates its commitment to innovation by focusing on transforming legacy systems into modern, hybrid solutions that maintain business continuity. This approach enables organizations to integrate on-premise with environments, driving and scalable growth without operational interruptions. Supporting this mission is a robust global partner ecosystem comprising over 750 partners, which combines industry expertise with advanced technology for comprehensive solutions. A key element of this network is the company's deep, long-standing collaboration with , a that has evolved since to advance mainframe modernization and hybrid integration.

History

Founding and early development

Rocket Software was founded on April 16, 1990, in , by Andy Youniss and Johan Magnusson Gedda, who began the venture as a two-person operation in Youniss's garage. The company's initial mission centered on developing software tools to enhance environments, addressing the needs of enterprises reliant on these systems for mission-critical operations. The first product, Rocket/QMF, was a resource monitor designed to optimize IBM's Query Management Facility (QMF), a tool for processing database queries on mainframes. This focus on IBM platforms, including support for DB2 database management, allowed Rocket to quickly establish partnerships with IBM and gain traction among mainframe users seeking integration and performance improvements for legacy systems. During the , the company experienced rapid growth by serving enterprise clients in mainframe-heavy industries, such as and , where reliable and were paramount. By the early 2000s, Rocket had transitioned from its niche emphasis on IBM-specific tools to a broader scope in IT modernization, incorporating solutions for integration and expanded database capabilities while continuing to build on its mainframe expertise. This evolution laid the groundwork for further diversification, including later expansions through strategic acquisitions.

Acquisitions and growth

Rocket Software has pursued an aggressive acquisition strategy since its early years, integrating over 50 companies to expand its portfolio in solutions. This approach began with key purchases in the , such as Aldon in 2011, which enhanced capabilities; Zephyr Development Corporation and Shadow from in 2012, bolstering terminal emulation and mainframe integration; and D3 from TigerLogic in 2013 for $22 million, strengthening offerings. The pace of acquisitions accelerated in the late 2010s and early , with peak activity in 2018 and 2021, each seeing three deals that diversified the company's focus on and . Notable among these was the 2021 acquisition of ASG Technologies, a provider of enterprise and IT software, which integrated tools for monitoring and . In 2023, Rocket acquired Key Resources, Inc., to advance mainframe security solutions, and B.O.S. Software, a German firm specializing in and replication for hybrid environments. These moves exemplified Rocket's strategy to address mainframe modernization and cloud integration challenges. A pivotal milestone came in 2018 when Private Equity acquired a stake in for an enterprise value of approximately $2 billion, providing capital to fuel further expansion and innovation in IT modernization. This investment supported subsequent growth, including the landmark 2024 acquisition of OpenText's Application Modernization and Connectivity business for $2.275 billion, which added products like ChangeMan ZMF and boosted annual revenue by over 60 percent. By early 2025, Bain was exploring a potential sale of the company, with valuations reaching up to $10 billion, reflecting the cumulative impact of these strategic integrations. These acquisitions have significantly broadened Rocket Software's global reach, serving over 12,500 customers across diverse industries while deepening expertise in hybrid strategies. The company's growth trajectory culminated in initiatives like the launch of NextGen Academy in October 2025, a paid training program aimed at developing early-career software engineers to support ongoing expansion in enterprise IT. Overall, this acquisition-driven model has positioned as a leader in modernization, with successful integration of more than 50 entities enhancing its competitive edge.

Products and services

Application modernization

Rocket Software's application modernization solutions enable organizations to update legacy systems, particularly those built on , without requiring complete rewrites, thereby preserving critical business logic while enhancing agility and integration with contemporary technologies. Key products include Rocket Enterprise Developer for Z, a graphical (IDE) designed for zSystems that supports smart editing, compiling, and debugging of applications to accelerate development and modernization efforts. Similarly, Rocket ACUCOBOL-GT serves as a compiler and that extends applications across desktop, web, and mobile platforms, facilitating maintenance and updates for distributed systems. Rocket AccuTerm provides a secure for MultiValue applications, offering an accessible interface that supports enhanced user interactions with legacy environments. These tools support refactoring of mainframe code into cloud-native formats through features like automated code analysis and minimal-change replatforming, allowing seamless transitions to hybrid infrastructures. Integration with pipelines is achieved via support for practices and automation tools, enabling faster release cycles and agile workflows. Hybrid deployment options permit applications to run on-premises, in the , or across both, reducing risk and time to value for modernization projects. Following the 2024 acquisition of OpenText's Application Modernization and Connectivity (AMC) business, Rocket incorporated tools such as , which enables building, modernizing, and deploying applications using industry-standard IDEs like and , with integration to .NET, JVM, APIs, , and containers. In September 2025, Rocket advanced with GenAI capabilities for faster code analysis and ARM-ready deployments to enable disruption-free transformation of legacy systems. In the finance sector, organizations like MAIF, a French provider, have utilized Rocket Visual COBOL to modernize aging mainframe systems onto a UNIX-based (SOA), achieving 20% faster processing, 24/7 availability, and reliable batch restarts while preserving existing business logic. Government entities benefit similarly; for instance, the UK's (DWP) migrated over 25 million lines of code to AWS using Rocket Visual COBOL and Rocket COBOL Server, resulting in a 60% improvement in , 96% reduction in manual interventions, and over 800 deployments in a single year without full application rewrites. A U.S. administering payments also integrated legacy /mainframe systems with Rocket solutions to enhance and , processing 1,000 reports monthly across 3,000 users while avoiding costly redevelopment.

Data management and analytics

Rocket Software offers a suite of and solutions designed to integrate and analyze data from legacy mainframe systems and modern environments, enabling organizations to derive actionable insights from complex, siloed data sources. These tools support data transformation, replication, and , particularly for high-volume transactional data in enterprise settings. By leveraging multi-value and AI-enhanced querying, Rocket's portfolio addresses challenges in data accessibility and compliance across hybrid infrastructures. Central to Rocket's data management are its multi-value databases, Rocket UniVerse and Rocket D3, which are optimized for embedded systems and handle complex relationships efficiently in industries requiring rapid query . Rocket UniVerse, for instance, supports scalable storage and retrieval for business-critical applications, while Rocket D3 provides similar capabilities with enhanced performance for distributed environments. Complementing these, Rocket CorVu delivers (BI) and performance management features, allowing users to visualize and analyze operational metrics through dashboards and reporting tools. Additionally, Rocket Content Smart Chat, powered by generative AI, enables querying of enterprise , simplifying access to insights without requiring technical expertise. Rocket's capabilities extend to data transformation and auditing via tools like Rocket Databridge, which extracts and converts mainframe data for integration with cloud platforms, and Rocket Audit & Analytics Services, which automates compliance checks and operational analytics. These solutions support environments such as IMS and DB2, facilitating real-time data replication and synchronization to ensure data consistency across on-premises and cloud systems. For example, Rocket Data Replicate and Sync provides (CDC) from IMS DB and DB2, enabling seamless data movement to analytics platforms like Azure without disrupting operations. In practical applications, Rocket's tools modernize legacy data silos to deliver real-time insights, particularly in healthcare and retail sectors. In healthcare, they support by integrating patient records from mainframe sources for faster decision-making and risk reduction. In retail, and related enable optimization and customer behavior analysis by unifying distributed data streams. The 2021 acquisition of ASG Technologies enhanced Rocket's offerings with advanced tools, including the Rocket Data Intelligence platform, which provides metadata management, tracking, and quality controls to build trust in enterprise assets. This integration allows for comprehensive discovery across over 220 sources, strengthening analytics automation and regulatory adherence.

DevOps and infrastructure solutions

Rocket Software provides a range of tools focused on automating IT operations, , and infrastructure optimization, particularly for mainframe, , and hybrid cloud environments. These solutions enable organizations to implement / (CI/CD) pipelines, enforce governance, and enhance resiliency across legacy and modern systems. Among its key products, Rocket ChangeMan ZMF serves as a comprehensive mainframe solution for , automating the migration of software changes from development through testing to production while ensuring auditability and compliance. It supports strategic release planning, traceable builds, and integration with modern tools like and VS Code to bridge traditional mainframe workflows with contemporary practices. Rocket DevOps delivers end-to-end for IBM i platforms, incorporating DevSecOps features such as automated testing, compliance enforcement, and seamless integration with third-party IDEs like and . This tool manages enhancement requests, change processes, and multi-code development, helping teams balance , flexibility, and in hybrid setups. In November 2025, Rocket unveiled the next evolution of its DevOps tools, including AI-driven insights, deeper , and more intuitive workflows to enhance developer efficiency and IT resilience. Rocket Mainstar Clone and Rename enables efficient IMS data cloning on mainframes, simplifying the creation of test environments by automating database replication and renaming to avoid conflicts, which reduces setup time from hours to minutes. Complementing this, Rocket Cloud Connector offers hybrid cloud storage for data, facilitating secure transfers to public clouds like AWS and Azure, thereby lowering on-premises storage costs and bolstering disaster recovery capabilities. Additional capabilities encompass optimization through workload tools that coordinate cross-platform workflows, EDI via Rocket EDX—a cloud-based service that handles standards, monitors transactions, and integrates with systems for streamlined B2B operations—and performance monitoring integrated into suites like Rocket Enterprise Orchestrator for visualizing and automating processes. These features support infrastructure optimization by enabling real-time visibility into IT operations and reducing manual interventions. In practice, these solutions streamline workflows in sectors like and utilities, where they accelerate deployments by automating change cycles and minimize downtime through resilient cloning and cloud integration, as demonstrated in operational efficiency gains for hybrid infrastructure users. For instance, utilities leveraging Rocket DevOps have reported optimized pipelines that support faster software updates without disrupting critical systems. The 2023 acquisition of B.O.S. Software has further strengthened these offerings by incorporating advanced tools, including machine learning-driven replication between mainframes and cloud environments, to facilitate smoother migrations and hybrid cloud strategies. This addition enhances BOS's M/L capabilities for , enabling more robust infrastructure support for application environments.

Corporate structure

Leadership team

Rocket Software's leadership is headed by Milan Shetti, who serves as President and Chief Executive Officer. Shetti joined the company in 2020 and assumed the CEO role in November 2021, focusing on driving overall growth, innovation, and strategic direction in enterprise software modernization. Key executives include Phil Buckellew, President of the Infrastructure Modernization Business Unit since 2022, who leads product strategies and value delivery across multi-platform environments; Puneet Kohli, President of the Application Modernization Business Unit, who joined in 2018 and was promoted in 2023 after serving as VP of Quality and DevOps, overseeing modernization initiatives for legacy applications; and Michael Curry, President of the Data Modernization Business Unit since joining in 2023, with expertise in building and executing software product strategies. Additional senior leaders are Alyse Daghelian, Chief Revenue Officer since 2023, responsible for go-to-market strategies and revenue growth; Barbara Goose, Chief Marketing Officer since 2021, directing global marketing efforts; Darlene Williams, Chief Information Officer since assuming the full role in 2022 (joined as interim in 2021), overseeing IT operations; and Jay Leader, Chief Customer Officer since 2014, managing customer success and relations. In supporting roles, Bruce Bowden has been since July 2022, bringing over 25 years of technology and finance experience to manage fiscal operations; Julie Law serves as Chief People Officer since December 2022, focusing on employee experience, hiring, and retention; Liz Fischer is Chief Legal Officer since 2023, providing counsel on mergers, acquisitions, technology licensing, and ; and P. Gary Gregory has been since 2012, guiding the company's technology strategy and innovation roadmap. Under this executive team, Rocket Software has advanced its growth strategy, emphasizing hybrid cloud expertise to unify product portfolios and accelerate customer migrations from legacy systems to modern infrastructures.

Ownership and investments

Rocket Software has remained a since its founding in 1990, with no history of public listing or (IPO). The company's primary investor is Private Equity, which acquired a majority stake in 2018 for approximately $2 billion, enabling significant expansion through strategic acquisitions. Under Bain's ownership, Rocket Software has pursued growth via key acquisitions, including those in 2021 and 2023 that enhanced its mainframe, data, and application modernization capabilities. Bain Capital partly financed Rocket Software's $2.275 billion acquisition of OpenText's Application Modernization and Connectivity business, completed in May 2024, which expanded revenue by over 60% and integrated new capabilities in mainframe and hybrid cloud environments. As of February 2025, was exploring a potential sale of the company, engaging and to lead the process, with valuations estimated between $8 billion and $10 billion. Rocket Software operates under its existing management team with strategic oversight from , focusing on reinvestment for growth rather than dividend distributions, consistent with its structure and lack of public shareholder obligations.

Reception

Industry awards and recognition

Rocket Software has received notable recognition in the Globee Awards for its contributions to IT modernization. In 2022, the company was awarded a Gold Globee in the Awards for Software Company of the Year, honoring its acquisitions, new product releases, and focus on solutions that enable customers to modernize mission-critical IT systems. This accolade specifically highlighted Rocket's innovation in helping organizations update legacy infrastructure without disruption, underscoring its leadership in application and data modernization. The company also hosts annual Rocket Partner Awards to recognize partners driving business impact, particularly in ecosystems involving technologies. In 2023, winners included Mainline Information Systems for the Americas Partner Award, due to their collaboration on mainframe solutions like and expertise in customer value delivery; Mauden for the EMEA Partner Award, noted for doubling revenue through renewals and support for and security tools; and Xmeg for the APAC Partner Award, for deploying Rocket solutions in major banks using IBM-compatible systems. These awards emphasize partnerships that enhance modernization efforts within the ecosystem, with recipients like Mauden recognized as top partners in . Industry analysts have rated Rocket Software highly for its tools in . On Gartner Peer Insights, it holds a 4.8 out of 5 rating based on 12 verified reviews in the Application Development Life Cycle Management market, praised for solid functionality and implementation support. Similarly, reports an overall 4.2 out of 5 rating across 257 verified user reviews for its product portfolio, reflecting strong satisfaction with modernization and solutions. Rocket Software has been honored for its contributions to the IBM ecosystem through the IBM Champions program, which recognizes individuals for technical leadership and community advocacy. The company boasts 18 IBM Champions among its employees, the highest number from any single organization, acknowledging their expertise in mainframe and IBM Power platforms. This recognition validates Rocket's role in advancing technologies, including recent integrations with IBM watsonx for AI-enhanced productivity. In 2025, Rocket Software was named a Challenger in the for Service Orchestration and Automation Platforms. Additionally, Rocket DataEdge received the Data Innovation Award at the Tearsheet's 2025 Data Awards, recognizing its role in enabling financial institutions to unlock insights from legacy core systems. Rocket Software marked its 35th anniversary in 2025 with celebrations emphasizing its sustained innovation leadership in IT modernization, from its founding in 1990 to serving global enterprises with core system solutions. The milestone highlighted decades of growth, excellence, and commitment to hybrid cloud and AI-driven transformations.

Employee and customer feedback

Rocket Software has received generally positive feedback from employees on platforms like , where it holds an overall rating of 4.0 out of 5 stars based on 566 reviews as of November 2025, with 82% of employees recommending the company to a friend. On , the company is rated 3.4 out of 5 stars from 60 reviews, reflecting a mix of satisfaction with workplace culture and some concerns about management. Additionally, Rocket Software earned Great Place to Work certification in 13 countries in 2022, with 85% of employees reporting a positive experience compared to the 57% U.S. national average. Customer feedback highlights strong product performance, particularly in application modernization. On , Rocket Software products average 4.2 out of 5 stars from 257 verified user reviews as of November 2025, with users frequently praising the ease of use and efficiency in modernization efforts. Peer Insights rates the company's application development life cycle management solutions at 4.8 out of 5 stars based on 12 reviews, commending robust sales support while noting occasional challenges with implementation timelines. Common themes in employee reviews include high praise for the company's collaborative culture, work-life balance, and support for , often cited as key strengths in fostering . However, some feedback points to criticisms regarding organizational disruptions following acquisitions, such as shifts in team structures and communication. Interns have shared particularly favorable experiences, with Glassdoor intern reviews averaging 4.9 out of 5 stars, emphasizing a welcoming environment, meaningful projects, and mentorship opportunities that aid professional growth.

References

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