11th Jul 2008 07:00
11 July 2008
Micro Focus International plc
Acquisition of Liant
Hosting equity analyst and investor day
Ahead of its analyst and investor event today, Micro Focus International plc ("Micro Focus", "the Company" LSE: MCRO.L) announces that it has acquired Liant Software Corporation ("Liant") for a total cash consideration of US$5.0 million, paid in full on completion.
Liant is a provider of software tools for developing business information systems and solutions to help transform existing business applications and processes into modern and robust distributed application software systems. Liant's technology is highly complementary to Micro Focus' business and the acquisition provides the opportunity for Micro Focus to expand its portfolio of Enterprise Application Management solutions, especially to include additional programming language capabilities, such as PL/I.
In the year to December 2007, Liant generated a loss before tax of US$0.4 million and its gross assets as at 31 December 2007 were US$2.0 million. Following the acquisition, Micro Focus plans to restructure the business and aims to increase margins over time to a level consistent with Micro Focus' existing business. The consequent restructuring charge is expected to be approximately US$2.0 million in the financial year to 30 April 2009.
Stephen Kelly, Chief Executive, commented:
"The acquisition of Liant is consistent with Micro Focus' strategy of expanding our core areas of expertise. As a result of this corporate development, Micro Focus is even better equipped to offer customers a broad range of choices as they modernise their core IT systems to meet their business objectives."
An equity analyst and investor day is being held today at the offices of Financial Dynamics. Presentations will be made by the management team focusing on Micro Focus' current strategy and a market overview, outlining the product roadmap to meet customer requirements going forward. In addition, management will provide more information on the recent acquisition of NetManage and the plans for its integration over the coming months. No new material trading or financial information will be disclosed.
Enquiries:
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Micro Focus |
Financial Dynamics |
|
Stephen Kelly, Chief Executive Officer |
Harriet Keen |
|
Nick Bray, Chief Financial Officer |
Haya Chelhot |
|
Tim Brill, IR Director |
Hazel Stevenson |
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Tel: +44 (0)1635 32646 |
Tel: +44 (0)20 7831 3113 |
About Micro Focus
Micro Focus, a member of the FTSE 250, provides innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization and Management software enables customers' business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. For additional information please visit www.microfocus.com.
About Liant.
Liant Software Corporation is a privately held company having facilities in Austin (Texas), London (England), and Framingham (Massachusetts). Liant has business partners and distributors in 65 countries throughout the world, and has more than 5,000 customer organizations, including leading independent software vendors and Fortune 1000 corporations. Liant's success and longevity in the systems software marketplace provide unmatched experience, proven technology and stability for its customers.
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