OpenText has closed the previously announced acquisition of Micro Focus International, a provider of mission-critical software technology and services that help customers accelerate digital transformation.
As with previously announced cost synergies of $400 million, this acquisition of Micro Focus is expected to balance the combined company through an approximate 8% workforce reduction.
“I would like to welcome Micro Focus customers, partners and employees to OpenText,” said OpenText CEO & CTO Mark J. Barrenechea. “Digital life is life, and with Micro Focus’ great products and talent, we will help organisations of all sizes accelerate their digital transformation.”
Barrenechea said that with this acquisition, OpenText’s corporate mission expands to help enterprise professionals secure their operations, gain more insight into their information, and better manage an increasingly hybrid and complex digital fabric with a new generation of tools that include cybersecurity, digital operations management, applications modernization and delivery, and AI and analytics.
He added that this new generation of information management software will help organisations accelerate their digital transformation and drive growth while reducing costs.
The acquisition is expected to reflect on the OpenText operating model within six full quarters or sooner.
“We have a structured and disciplined approach to M&A,” said Barrenechea. “The last six months of planning has led us to a defined integration plan to deliver on our committed outcomes.”