Reply To: Traders Market Weekly: Jobs, Inflation and PMI Pressures

#42559
TradersCom
Keymaster

#BREAKING Micro Focus one of the world’s largest enterprise software providers to be acquired by OpenText at price of 532 pence per share, implying an enterprise value of approximately $6.0 billion
$MFGP up 98.3%

Recommended acquisition of Micro Focus International plc by Open Text Corporation
to create one of the largest global customer bases and broadest solution suites in enterprise software

https://www.enabling-transformation.com/

“We are pleased to announce our firm intention to acquire Micro Focus, and I look forward to welcoming Micro Focus customers, partners and employees to OpenText.

Upon completion of the acquisition, OpenText will be one of the world’s largest software and cloud businesses with a tremendous marquee customer base, global scale and comprehensive go-to-market. Customers of OpenText and Micro Focus will benefit from a partner that can even more effectively help them accelerate their digital transformation efforts by unlocking the full value of their information assets and core systems.”

Mark J. Barrenechea,
CEO of OpenText

“I am pleased to be recommending OpenText’s offer to our shareholders.

The premium offered demonstrates the significant progress we have made transforming the business. OpenText not only shares our values but will offer new opportunities for both our customers and employees. On behalf of the Board I would like to thank Stephen and his team for their hard work and continued contribution to the success of the group.”

Greg Lock
Chairman of Micro Focus