14 Jun All about the Microfocus spin-merge with Micro Focus
Checkpoint Technologies and Vivit Worldwide wanted to keep you up-to-date about some important questions that have been frequently asked by our user community members.
Why is Microfocus Spinning and Merging with Micro Focus?
Microfocus made the decision to spin-merge Microfocus Software with Micro Focus to create two businesses that are stronger, more focused, delivering faster outcomes to customers. The spin-merger creates a new industry player, Micro Focus, which will be valued at $4.5B and be one of the world’s largest pure-play enterprise software companies.
Why is Micro Focus the perfect company to take on Microfocus Software assets?
Micro Focus has a proven track record of managing both growing and mature software assets. Together, Microfocus’s Software assets and Micro Focus will have global reach and strong go-to-market capability with nearly 4,000 salespeople and deep R&D resources – ensuring that their customers continue to receive best-in-class software solutions. The combination will enable higher levels of investment in growth areas, while maintaining a stable platform for mission-critical software products.
When will the Microfocus Spin-Merger with Micro Focus be complete?
The transaction is expected to be complete in the second half of Microfocus’s fiscal 2017, with customer and partner commitments remaining unchanged.
What will the Microfocus ownership of the new company be?
Microfocus will not have an ownership stake in the new organization – it will be an independent publicly traded company. Microfocus shareholders will own 50.1 percent of the new organization. What will the leadership of the new company be? Chris Hsu will assume the role of Chief Executive Officer of the combined Microfocus Software and Micro Focus company pending deal close, which is currently targeted to be completed by approximately August 31, 2017. Until then, Stephen Murdoch will remain chief executive of Micro Focus, and then become chief operating officer.