Subscribe to AfterDawn's weekly newsletter.
Micro Focus - Pre-close Statement and Acquisitions
LONDON, May 6 /PRNewswire/ -- Micro Focus is set to attain a leading position in the Automated Software Quality market, with recommended offers to acquire both Borland Software Corporation and a division of Compuware. Stephen Kelly, Micro Focus Chief Exectuive, said the move was a "very logical progression" for the company and built on the products Micro Focus already offered in the testing space - a market valued at $2bn annually. The deals will be part funded with a credit facility backed by HSBC, Barclays, Lloyds and RBS. The CEO defended the decision to stretch the company despite the economic backdrop: "I do think this is a time where the strong get stronger, and sadly, the weak will wither on the vine," Stephen Kelly said. "So it's an opportunity for us, having had three years together where we've doubled the revenues of the company and actually increased profits by about 3.5 times - a very solid foundation for Micro Focus to go to the next scale and to actually assimilate some great assets and really become a leading vendor in the marketplace for testing as well as the core application modernisation and management." Also available interview with Nick Bray, CFO. The interviews and transcripts are available now on http://w3.cantos.com/micro_focus_ . It's free to view. All you need to do is register at http://www.cantos.com. Cantos.com, the online financial broadcaster, features in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email enquiries@cantos.com or phone +44-207-936-1333.
