Newbury-based Micro Focus becomes UK's biggest tech company
Firm officially completes £6.8bn takeover of Hewlett Packard Enterprise's software business
NEWBURY-based software group Micro Focus has today become the UK's biggest listed technology company after officially completing the $8.8bn (£6.8bn) takeover of Hewlett Packard Enterprise's (HPE) software business.
At this value, Micro Focus - whose headquarters are on the Old Bath Road - will leapfrog Sage as the FTSE 100's biggest technology firm and into the UK's 50 most valuable public companies.
This merger brings together two leaders in the software industry to form a new, combined company - the seventh largest pure-play enterprise software company in the world.
Upon close, Chris Hsu, formerly COO of HPE and executive vice president and general manager of HPE Software, was appointed CEO of Micro Focus.
“Today marks a significant milestone for Micro Focus, and I am honored to be leading this team,” he said.
“We are bringing together a powerful combination of technology and talent uniquely positioned to drive customer-centered innovation at enterprise scale – enabling organizations to maximize the ROI of existing software investments while embracing the new hybrid model for enterprise IT.
“It is our mission to provide a best-in-class portfolio of enterprise-grade scalable software with analytics built in, and put customers at the center of our innovation building high-quality products that our teams can be proud of.”
“Driven by this mission, Micro Focus is uniquely positioned to help customers and partners address opportunities and challenges within the new hybrid model for enterprise IT – from mainframe to mobile to cloud.”
“On behalf of everyone at DXC Technology, I would like to congratulate the Micro Focus team on this significant milestone,” said Mike Lawrie, chairman, president and CEO of DXC Technology.
“This merger promises to greatly enhance our strategic partnership to help drive true digital transformation for our clients, and we look forward to further collaboration with a best-in-class partner like Micro Focus.”