Micro Focus Shareholders Approve All Cash Acquisition By OpenText; Terms Not Disclosed

 OpenText™ (NASDAQ:OTEX), (TSX:OTEX) confirms that shareholders of Micro Focus International plc (LSE: MCRO) today approved the terms of the recommended all-cash offer by OpenText, through its wholly-owned subsidiary, Open Text UK Holding Limited (Bidco), to acquire the entire issued and to be issued share capital of Micro Focus and (NYSE (ADS): MFGP) as announced on August 25, 2022 (the Acquisition).

Micro Focus has announced the voting results today and a copy of the announcement is available at https://www.microfocus.com/en-us/investors. The Acquisition remains subject to satisfaction of the conditions set out in the circular to Micro Focus shareholders in relation to the Acquisition (the Scheme Document), including regulatory clearances. Subject to satisfaction of such conditions, the Acquisition is expected to close in the first quarter of calendar year 2023. Full details and the terms and conditions of the Acquisition can be found at https://investors.opentext.com.

"We are pleased that Micro Focus shareholders have approved the offer," said OpenText CEO & CTO Mark J. Barrenechea. "We have achieved an important milestone in our path towards completing the Acquisition. Upon closing, OpenText will be one of the world's largest software and cloud businesses. We look forward to welcoming Micro Focus customers, partners and employees to OpenText."