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Friday,July 01,2016

EXCLUSIVES 

Compuware's Application Testing/ASQ Biz in Micro Focus Bag

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In continuation of its organic growth strategy propelled by supplemenatry acquisitions, Micro Focus has reached agreement to acquire the suite of Application Testing / Automated Software Quality (ASQ) solutions and all related sales, support and development infrastructure (together being the "Compuware Testing and ASQ Business"), from Compuware Corporation (“Compuware”) for a total gross cash consideration of US$80 million.

Micro Focus has been evaluating acquisition opportunities in logically adjacent markets as part of its original strategy review in 2006 to broaden its addressable market and create new engines to drive significant and sustained future organic growth through the extension of its product portfolio. As part of this process, Micro Focus has identified the c.US$2 billion global Application Testing / ASQ market as particularly attractive. Industry analysts believe this market will continue to grow strongly driven by the strategic importance of ASQ solutions in the increasingly complex enterprise IT environment. Micro Focus already operates in this market with its Data Express product. The acquisition of Compuware’s Testing and ASQ Business is an opportunity to establish a significant presence in this fragmented market which fits closely with Micro Focus’ existing modernization and assessment offering.

Commenting on the acquisition, Stephen Kelly, Chief Executive Officer of Micro Focus International plc, said: “Micro Focus sees significant value for customers and shareholders in this proposed transaction. Acquiring the Compuware Testing and ASQ business is a logical extension to our existing application management proposition, and we see strong growth potential in this market. Our successful track record of five effective integrations during the past three years equips us well to rapidly harness the benefits of this proposed acquisition.”

“This agreement represents a key accomplishment in Compuware’s Business Service Delivery strategy for ensuring applications work well and deliver business value. By focusing Compuware’s human, technical and financial resources on core market categories where we can be best in the world - like end-to-end application performance - Compuware will deliver more differentiated value to our customers and better bottom-line results for our investors and employees,” said Bob Paul, Compuware President and Chief Operating Officer.

The acquisition will be funded from existing Micro Focus cash resources supplemented by a new three year revolving credit facility of US$175 million provided through a syndicated loan consortium comprising Barclays, HSBC, Lloyds and RBS.

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