Microsoft .msg files can be read by Outlook. You can also process them using PowerShell by creating a COM object: New-Object -comobject outlook.application
. But Outlook probably won't be found on any servers, and I'm not sure that it will work properly if it was (if I remember correctly, there are quite a few dependencies on other Office software).
Is there a reason you're saving .msg files instead of the messages text versions (other than it's easy to do)? I'm not even sure you can save a file as text using Outlook.
I used to use POP3 to read messages I needed to analyze. Doing so will give you the entire message in either straight text or MIME format (you'll get the message headers and body). Attachments to messages would then be in either Base64 (for plain text messages) or as separate MIME sections.
There's a MIMEKit module you can use with PowerShell to make working with MIME easier.