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OpenText has received all regulatory approvals for its acquisition of Micro Focus International announced on August 25, 2022. The acquisition is an all-cash offer and is expected to close on January 31, 2023, following a court sanction on January 27, 2023. OpenText's CEO expressed enthusiasm about integrating Micro Focus into its operations, highlighting the benefits for its customer base and future digital solutions.
Micro Focus has launched HCMX FinOps Express, a new cloud financial management solution aimed at controlling and optimizing cloud spending amid an estimated $500 billion annual cloud infrastructure expenditure. Announced during the Gartner IT Infrastructure, Operations & Cloud Strategies Conference, this SaaS tool provides organizations with capabilities to manage cloud investments more efficiently. Features include a unified view of cloud spend across platforms, identification of inefficiencies, budgeting tools, AI-assisted recommendations, and self-service guardrails to prevent over-expenditure.
Micro Focus (NYSE: MFGP) has renewed its partnership with Jaguar TCS Racing, emphasizing a commitment to sustainability in the ABB FIA Formula E World Championship. This collaboration will leverage Micro Focus's software and services to enhance car performance while promoting sustainable mobility technology. Key tools include Vertica's analytics and IDOL's AI-driven data analytics. Both companies aim to push competitive boundaries and develop eco-friendly solutions, aligning with Micro Focus's goal of achieving net-zero carbon emissions by 2050.
Micro Focus (LSE: MCRO; NYSE: MFGP) announced its commitment to achieving net zero carbon emissions by 2050, aligning with the Science Based Targets initiative. The plan includes reducing at least 90% of absolute scope 1 and 2 emissions, transitioning to 80% renewable energy by 2025, and all electric vehicles by 2031. Additional measures include using non-fossil fuel energy for heating by 2041 and reducing emissions in offices without renewable energy tariffs by 50%. CEO Stephen Murdoch emphasized the urgent need to address climate change through this initiative.
On October 18, 2022, OpenText (NASDAQ: OTEX) announced that shareholders of Micro Focus International plc (LSE: MCRO, NYSE (ADS): MFGP) have approved the all-cash acquisition offer. The acquisition, initially announced on August 25, 2022, is set to solidify OpenText's position as one of the largest software and cloud businesses globally. The transaction is pending regulatory approvals and is expected to close in the first quarter of 2023. OpenText's CEO expressed optimism about the acquisition's strategic importance and integration.
Micro Focus (LSE: MCRO; NYSE: MFGP) announced its Application Delivery Management (ADM) portfolio has joined the AWS Independent Software Vendor (ISV) Workload Migration Program. This initiative simplifies the migration of key Micro Focus solutions like Project and Portfolio Management and LoadRunner to AWS, enabling customers to move from on-premises to the cloud more efficiently. Tal Levi Joseph, VP of Product Management for ADM, highlighted that customers now have multiple pathways for migration, reflecting Micro Focus's commitment to cloud integration and enhancing operational flexibility.
On September 20, 2022, Micro Focus and OpenText announced a recommended all-cash acquisition of Micro Focus via a Scheme of Arrangement under the Companies Act 2006. The Scheme Document detailing the acquisition terms has been published, informing shareholders of the upcoming Court and General Meetings scheduled for October 18, 2022. The Micro Focus Directors recommend shareholders vote in favor of the Scheme to secure completion, which is anticipated to occur in Q1 2023, pending necessary approvals. Investors are advised to read the Scheme Document thoroughly before deciding.
Micro Focus (LSE: MCRO; NYSE: MFGP) announced the successful modernization of AG's business systems, Belgium's largest insurer, without interrupting services for its three million clients. The project involved transferring over 80 million lines of code from a mainframe system to a new cloud-compatible infrastructure, processing 14 million transactions daily. Completed in three years, it aims to support AG's digital transformation, reduce total cost of ownership, and enhance recruitment and retention of tech talent. Key partners included HP Enterprise and Capgemini.
Micro Focus (LSE: MCRO; NYSE: MFGP) has announced that its Enterprise Suite for application modernization is now available on the Google Cloud Marketplace. This launch allows organizations to quickly deploy enterprise-grade mainframe solutions on Google Cloud, enhancing their digital transformation efforts. With robust security and scalability, the suite supports the modernization of IBM mainframe PL/I and COBOL applications. This development comes as 72% of COBOL application owners consider modernization essential for meeting contemporary business demands.
CyberRes, a Micro Focus (LSE: MCRO; NYSE: MFGP) business, has launched the Voltage File Analysis Suite (FAS), enhancing data discovery and protection. Key features include SmartScan, enabling efficient data risk assessments at scale. Voltage FAS supports compliance across 39+ regions, offering both SaaS and MSSP options. It facilitates data residency for strict regulations and integrates with major data sources, including Microsoft 365 and Amazon S3. Users report significant efficiencies in identifying sensitive data.
