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Micro Focus expects to deliver medium term benefits from HPE merger

Micro Focus is concentrating on merging with Hewlett Packard Enterprise's software business after completing the acquisition last week

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The HPE acquisition will provide a two-month contribution to Micro Focus interims

Micro Focus International PLC (LON:MCRO) said it expects to deliver medium term benefits from its US$8.8bn takeover of Hewlett Packard Enterprise's software business.

The software group became the UK’s biggest listed technology company after completing the acquisition on Friday.

In a statement ahead of its annual general meeting today, Micro Focus acknowledged there was about a year of uncertainty surrounding the merger but now that the deal has been completed it would concentrate on combining the enlarged group.

“The completion of the merger is the culmination of over 12 months work from employees and advisors on a very complex transaction,” the company said.

Stephen Murdoch stepped down from the role of chief executive and has been appointed chief operating officer of the merged company.  Chris Hsu has taken over as chief executive of the enlarged group.

Micro Focus said there will be a two-month contribution from the HPE software business in the first half. The interims will be published on 8 January 2018.

Quick facts: Micro Focus International plc

Price: 324.1 GBX

LSE:MCRO
Market: LSE
Market Cap: £1.08 billion
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