Micro Focus Completes Acquisition of Relativity Technologies, Inc.
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NEWBURY, England--(Business Wire)--
Micro Focus International plc (MCRO.L "Micro Focus" or"the Group"), today
announced that it has completed the acquisition of Relativity Technologies, Inc.
the software provider of technologies to assess and manage core enterprise
applications.
Completion of the transaction follows a special meeting of Relativity
Technologies, Inc. shareholders held on 30 December 2008 at which its
shareholders accepted the Offer. As previously announced by Micro Focus, it is
intended that the Relativity Technologies business will now be fully integrated
into the Micro Focus Group. On December 8, 2008, Micro Focus announced an agreed
offer for Relativity Technologies for approximately US$9.7 million in cash.
Stephen Kelly, CEO of Micro Focus International plc said:
"Micro Focus and Relativity are leading players in Application Modernization.
The combination of these two companies will strengthen Micro Focus`s relevance
and provide the enlarged group with further opportunities for growth through a
wider and more comprehensive product offering. Due to the complementary nature
of the two businesses from a product and financial perspective, we are well
placed to deliver value from this acquisition and look forward to implementing
the integration of the Relativity business."
Enquiries:
Micro Focus Tel: +44 (0)1635 32646
Chief Executive, Stephen Kelly
Chief Financial Officer, Nick Bray
IR Director, Tim Brill
Financial Dynamics Tel: +44 (0)20 7831 3113
Charles Palmer
Haya Chelhot
Hazel Stevenson
About Micro Focus
Micro Focus (LSE: MCRO.L), is a London Stock Exchange-listed software company
headquartered in the UK which provides innovative software that allows companies
to dramatically improve the business value of their enterprise applications.
Micro Focus Enterprise Application Modernization and Management software enables
customers` business applications to respond rapidly to market changes and
embrace modern architectures with reduced cost and risk. For additional
information please visit www.microfocus.com.
LEWIS PR
Dan Gaffney, 617-226-8844
dang@lewispr.com
Copyright Business Wire 2009
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