Micro Focus completes acquisition of NetManage

Jun 20, 2008 (DMEUROPE via COMTEX) -- MCFUY | Quote | Chart | News | PowerRating -- UK-based Micro Focus International has completed the acquisition of NetManage, a software provider of technologies to transform core applications into new Web-based business solutions.

It is intended that the NetManage business will now be fully integrated into the Micro Focus Group.

On 1 May 2008, Micro Focus announced an agreed offer for NetManage valuing the existing issued share capital of NetManage at approximately $73.3m including the value of all outstanding options.

In accordance with the terms of the transaction, NetManage's cash balance immediately prior to closing was over and above the minimum $25m as per the agreement, standing at approximately $27m.

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