OpenText completes acquisition of Micro Focus, looks ahead to 2023

OpenText has announced that it has closed the previously announced acquisition of Micro Focus International, a well-known provider of mission-critical software technology and services that help customers accelerate digital transformation.

Mark J. Barrenechea, CEO & CTO of OpenText, made the comment, "I would like to welcome Micro Focus customers, partners and employees to OpenText. Digital life is life, and with Micro Focus great products and talent, we will help organisations of all sizes accelerate their digital transformation."

Barrenechea further added, "With this acquisition, OpenTexts 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 modernisation and delivery, and artificial intelligence (AI) and analytics.

"This new generation of information management software will help organisations accelerate their digital transformation and drive growth while reducing costs."

Further information on Open Text's financial performance, as well as updated models, will be provided when OpenText reports its second quarter Fiscal 2023 financial and business results in the first week of February.

Closing terms of the acquisition were also announced by the company. Total purchase price of approximately US$5.8 billion, inclusive of Micro Focus cash and debt, subject to final adjustments.

In a blog post published on the Open Text website, Barrenechea says this acquisition will feed into the company's overarching goals for 2023.

He writes, "We believe there are eight key markets required to create high-impact digital transformations, meet Business 2030 requirements and win in this new digital era."

The eight markets are these:

• Cybersecurity: Evolving at the speed of change to stop threats in their tracks with a resilient security foundation that protects, detects, remediates and enhances recovery.
• Digital operations management: Optimising digital operations and IT service management through unified, AI-based, composable solutions that liberate resources and improve performance while taming cloud costs.
• Content services: Mastering human-centric work, boosting productivity, eliminating silos and minimising information risk with content, insights and automation.
• Digital experience: Transforming relationships and powering digital interactions for customers, partners and employees across the digital journey to gain happy users for life.
• Business network: Simplifying business ecosystem connectivity to transform and future-proof supply chain integration - with scale, insight and full compliance.
• Application delivery management: Enabling businesses to accelerate application delivery and achieve high-quality applications at scale- from strategy to production.
• Application modernisation and connectivity: Helping build on already-made IT investments while continuously evolving for future needs with improved efficiency and agility.
• Analytics and AI: Transforming all data into strategic, actionable insights using AI and ML analytics in real time, in place or in flight across any data type.

Barrenechea concludes, "We have a structured and disciplined approach to M&A. The last six months of planning has led us to a defined integration plan to deliver on our committed outcomes. We are ready and excited about winning the information management market, strong customer outcomes, and company growth and expanded cash flows."

OpenText, The Information Company, is focused on enabling organisations to gain insight through market leading information management solutions, powered by OpenText Cloud editions.