OpenText On Track to Buy Micro Focus

OpenText Receives All Regulatory Approvals with Expected Closing on January 31, 2023

OpenText announced jointly with Micro Focus International plc (LSE: MCRO) today that all regulatory conditions pertaining to the all-cash offer by OpenText, through its wholly-owned subsidiary, Open Text UK Holding Limited (Bidco), to acquire the entire issued and to be issued share capital of Micro Focus as announced on August 25, 2022 (the Acquisition), have now been satisfied. Subject to the Court sanctioning the Scheme, which is expected to occur on January 27, 2023, the Acquisition is expected to close on January 31, 2023.

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“With the shareholder approval received, successful financing completed and now, all regulatory conditions satisfied, we have a clear path towards closing the Acquisition,” said OpenText CEO & CTO Mark J. Barrenechea. “We are excited to welcome Micro Focus customers, partners and employees to the OpenText family and helping our customers create the digital fabrics of the future.”

OpenText, The Information Company, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions.

The Acquisition will be subject to the applicable requirements of English law, the UK City Code on Takeovers and Mergers (the Takeover Code), the UK Panel on Takeovers and Mergers, the London Stock Exchange and the UK Financial Conduct Authority.

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