Proactive Investors - Run By Investors For Investors

Micro Focus expects to deliver medium term benefits from HPE merger

Micro Focus is concentrating on merging with Hewlett Packard Enterprise's software business after completing the acquisition last week
computer
The HPE acquisition will provide a two-month contribution to Micro Focus interims

Micro Focus International PLC (LON:MCRO) said it expects to deliver medium term benefits from its US$8.8bn takeover of Hewlett Packard Enterprise's software business.

The software group became the UK’s biggest listed technology company after completing the acquisition on Friday.

In a statement ahead of its annual general meeting today, Micro Focus acknowledged there was about a year of uncertainty surrounding the merger but now that the deal has been completed it would concentrate on combining the enlarged group.

“The completion of the merger is the culmination of over 12 months work from employees and advisors on a very complex transaction,” the company said.

Stephen Murdoch stepped down from the role of chief executive and has been appointed chief operating officer of the merged company.  Chris Hsu has taken over as chief executive of the enlarged group.

Micro Focus said there will be a two-month contribution from the HPE software business in the first half. The interims will be published on 8 January 2018.

View full MCRO profile View Profile

Micro Focus Timeline

Related Articles

Virtual Reality headset
May 02 2018
The integration of the group's Apollo 11 experience into the Oculus Go launch package has seen its share price rocket up over 40%
Procurement services cogs
October 04 2018
Revenues in the latest half-year rocketed 254.5% to £596,000, more than the entirety of 2017
1543399827_shutterstock_130609865.jpg
November 06 2018
it aims to become one of the leading firms within the health benefits industry in Canada and to launch in the US and globally

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use