3rd May 2016 07:00
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MICRO FOCUS INTERNATIONAL PLC
COMPLETION OF ACQUISITION OF SERENA SOFTWARE FOR $540 MILLION
2 May 2016
For immediate release
Micro Focus International plc ("Micro Focus" or "the Company", LSE: MCRO.L), the international software product group, is pleased to announce that it has completed its acquisition of Spartacus Acquisition Holdings Corp., the holding company of Serena Software Inc. and its subsidiaries, at an enterprise value of $540 million, in accordance with the terms of the Merger Agreement.
The transaction has been financed through a combination of existing cash resources (including the £158.2 million raised through an institutional placing of ordinary shares which completed on 24 March 2016) and debt facilities.
On 22 March 2016 Micro Focus announced that its revolving credit facility had been extended from $225m to $325m through additional commitments from Barclays and HSBC. The Company is pleased to announce that the revolving credit facility has been further extended from $325m to $375m through an additional commitment by The Royal Bank of Scotland plc.
Enquiries
Micro Focus International plc Tel: +44 (0) 1635 32646
Kevin Loosemore, Executive Chairman
Mike Phillips, Chief Financial Officer
Tim Brill, IR Director
Powerscourt Tel: +44 (0) 20 7250 1446
Peter Ogden
Sophie Moate
About Micro Focus
Micro Focus (LSE: MCRO.L) is a global enterprise software Company supporting the technology needs and challenges of the Global 2000. Our solutions help organizations leverage existing IT investments, enterprise applications and emerging technologies to address complex, rapidly evolving business requirements while protecting corporate information at all times. Our Product Portfolios are Micro Focus and SUSE. Within Micro Focus our solution portfolios are COBOL Development and Mainframe Solutions, Host Connectivity, Identity and Access Security, IT Development and Operations Management Tools, and Collaboration and Networking. For more information, visit: www.microfocus.com. SUSE, a pioneer in open source software, provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. For more information, visit www.suse.com.
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