5th Jan 2009 07:00
5 January 2009
Micro Focus completes acquisition of Relativity Technologies, Inc.
Micro Focus International plc (MCRO.L "Micro Focus" or "the Group"), today announced that it has completed the acquisition of Relativity Technologies, Inc. the software provider of technologies to asses and manage core enterprise applications.
Completion of the transaction follows a special meeting of Relativity Technologies, Inc. shareholders held on 30 December 2008 at which its shareholders accepted the Offer. As previously announced by Micro Focus, it is intended that the Relativity Technologies business will now be fully integrated into the Micro Focus Group. On 8 December 2008, Micro Focus announced an agreed offer for Relativity Technologies for approximately US$9.7 million in cash.
Stephen Kelly, CEO of Micro Focus International plc said:
"Micro Focus and Relativity are leading players in Application Modernisation. The combination of these two companies will strengthen Micro Focus's relevance and provide the enlarged Group with further opportunities for growth through a wider and more comprehensive product offering. Due to the complementary nature of the two businesses from a product and financial perspective, we are well placed to deliver value from this acquisition and look forward to implementing the integration of the Relativity business."
Enquiries:
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Micro Focus |
Tel: +44 (0)1635 32646 |
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Chief Executive, Stephen Kelly |
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Chief Financial Officer, Nick Bray IR Director, Tim Brill |
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Financial Dynamics |
Tel: +44 (0)20 7831 3113 |
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Charles Palmer |
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Haya Chelhot |
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Hazel Stevenson |
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About Micro Focus
Micro Focus (LSE: MCRO.L), is a London Stock Exchange-listed software company headquartered in the UK which provides innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernisation 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.
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