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Micro Focus International Plc's Subsidiary Announces Acquisition of Orbix, Artix and Orbacus Software Product Lines


Monday, 24 Dec 2012 02:00am EST 

Micro Focus International Plc announced that one of its subsidiaries has reached a definitive agreement with Progress Software Corporation for the acquisition of intellectual property and other assets and the assumption of liabilities associated with Progress's Orbix, Orbacus and Artix software product lines, for a total consideration of $15 million. The consideration will be satisfied in cash at completion using Micro Focus' existing banking facility. Primarily relating to transfer of staff and certain contractual consents, and is expected to take place on or before January 21, 2013. 

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