OpenText to Acquire Micro Focus for $6 Billion

Cleary Gottlieb is representing OpenText in its recommended offer to acquire the entire issued and to be issued share capital of Micro Focus International PLC (Micro Focus) for 532 pence per share in cash, implying an enterprise value of approximately $6 billion on a fully diluted basis.

The transaction is expected to be effected by means of a court-sanctioned scheme of arrangement under the UK Companies Act 2006. The transaction was announced on August 25, 2022, and is expected to close in Q1 2023.

OpenText is a leading provider of information management products and services that help companies all over the world manage the creation, capture, use, analysis, and lifecycle of structured and unstructured data. OpenText has a long history of successful transactions executed with focus and speed, both in its traditional and adjacent market segments, and a proven track record of effectively integrating acquired businesses.

Micro Focus is one of the world’s largest software companies and serves thousands of organizations globally, including many of the largest companies in the Fortune Global 500 and had approximately $2.7 billion pro forma trailing 12 months revenue for the period ended April 30, 2022.

For more information, please see the press release here.