Micro Focus buys software product lines after delay

Micro Focus confirmed one of its subsidiaries has acquired Orbix, Orbacus and Artix software product lines from Progress Software Corporation, following a two month delay.

Micro Focus confirmed one of its subsidiaries has acquired Orbix, Orbacus and Artix software product lines from Progress Software Corporation, following a two month delay.

"Completion of the acquisition was delayed from January 21st 2013 awaiting certain contractual consents. Micro Focus now anticipates that the acquisition will contribute approximately $3m of revenue in the period from completion to April 30th 2013," it said.

The $15m deal was made using cash from Micro Focus' existing banking facility, it said in a statement.

Micro said for the financial year starting May 1st it continues to expect that the acquired assets will contribute to the stabilisation of the Visibroker business and deliver at least $14m in revenues.

Micro Focus will manage the acquisition to deliver adjusted EBITDA margin at least in line with the group's latest reported level of 44.5%, it added.

The acquisition is expected to be earnings enhancing in the current and future financial years.

CJ

Recommended

Three sustainable stocks that are doing well by doing good
Share tips

Three sustainable stocks that are doing well by doing good

Professional investor Peter Michaelis of the Liontrust Sustainable Investment Team picks three stocks to buy that are helping to create a cleaner, saf…
26 Jul 2021
Share tips of the week – 23 July
Share tips

Share tips of the week – 23 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Jul 2021
Will Zoom’s $15bn purchase help it expand?
Tech stocks

Will Zoom’s $15bn purchase help it expand?

The videoconferencing platform became a household name during the pandemic, but it now needs new sources of growth. Alex Rankine reports
23 Jul 2021
Philip Morris goes “beyond nicotine”
Stocks and shares

Philip Morris goes “beyond nicotine”

US tobacco giant Philip Morris International has agreed to pay £1bn for British inhaler specialist Vectura.
23 Jul 2021

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021