News Tech: Aug 25 (Reuters) – Canadian software company OpenText (OTEX.TO), said on Thursday it would acquire Britian’s Micro Focus International Plc (MCRO.L) in a deal valued at $6 billion, including debt, in a push to expand its enterprise information management business.
Micro Focus helps customers maintain and integrate legacy IT technology, a business it has grown by acquiring legacy technology such as mainframe computer software used by banks, retailers and airlines.
OpenText will pay 532 pence ($6.30) in cash for each Micro Focus share and the deal is expected to close in the first quarter of 2023.
Waterloo-based OpenText, one of Canada’s largest software makers, said it expects cost synergies of $400 million after the deal closes.
Source: Reuters Trust Principles.