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| Type | Public (LSE: MCRO) |
|---|---|
| Founded | 1976 |
| Headquarters | Newbury, United Kingdom |
| Key people | Kevin Loosemore (Chairman of the board), Stephen Kelly (CEO) |
| Industry | Information technology |
| Products | Enterprise application integration and management software |
| Services | IT consulting |
| Revenue | $228.2 million (2008)[1] |
| Operating income | $74.8 million (2008)[1] |
| Profit | $55.4 million (2008)[1] |
| Employees | 591 (2008)[1] |
| Website | www.microfocus.com |
Micro Focus International plc (LSE: MCRO) is a multinational software and information technology business based in Newbury, Berkshire, United Kingdom. The firm provides software and consultancy services for clients updating legacy systems to more modern platforms. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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Contents
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Senior management
Stephen Kelly has been chief executive since May 2006. His total annual compensation for this role is £615,000, consisting of a £300,000 salary and £315,000 bonus.[2]
History
The Company was founded in 1976[3] and became Micro Focus Group in 1983.[3] In its early years it concentrated on COBOL products. In 1998 the Company acquired Intersolv Inc, an applications enablement business, for $534 million[4] and the combined business was renamed Merant.[3] In 2001 the business was demerged from Merant with help from Golden Gate Capital Partners and once again became Micro Focus.[5] It was listed on the London Stock Exchange in 2005.[6]
On June 2008 the company acquired the Israeli NASDAQ listed software company NetManage for US$73.3 million. NetManage provides solutions to transform legacy applications into new Web-based business solutions.[7]
On 6 May 2009, it announced the purchase of Borland and the Quality Solutions part of Compuware. On 28 July 2009, Micro Focus completed the acquisition of Borland Software. It states that Borland products are highly complementary to Micro Focus’ core Enterprise Application Management & Modernisation solutions.
Operations
The Company is organised as follows:[8]
- Solutions
- Application Portfolio Management
- Application Modernisation
- Application Development
- Products e.g. Enterprise View, Studio, Server, Net Express, Server Express, Mainframe Express, RUMBA Terminal Emulator (IBM, HP, UNIX, OpenVMS, X).
- Services
Financial information
The Company's financial results are summarised below:
| Year to April1 | Revenue (US $ million) | EBIT (US $m) | Net profit (US $m) | Earnings per share (¢) |
|---|---|---|---|---|
| 2008 | 228.2 | 88.5 | 55.4 | 27.7 |
| 2007 | 171.6 | 63.0 | 43.9 | 22.0 |
| 2006 | 143.7 | 36.9 | 16.2 | 8.3 |
| 2005 | 150.6 | 47.9 | 17.5 | 14.3 |
| 2004 | 126.3 | 31.0 | 14.2 | 12.4 |
| 2003 | 114.9 | 27.8 | 10.5 | 9.8 |
- Note 1: - Accounts to 2004 prepared according to United Kingdom Generally Accepted Accounting Principles. Accounts from 2005 onwards prepared according to International Financial Reporting Standards.
The principal shareholder of Micro Focus with a 35% stake is venture capital firm Golden Gate Capital. At 25 July 2007 the company had three other named shareholders: Majedie Asset Management (8.17%), Barclays (6.98%) and Fidelity International (3.30%).[9]
References
- ^ a b c d e "Annual Report 2007". Micro Focus. http://investors.microfocus.com/mcro/investor-info/reports/2007/ar2007/ar2007.pdf. Retrieved 2008-05-11.
- ^ "Stephen Kelly: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=241783&ric=MCRO.L. Retrieved 30 August 2009.
- ^ a b c Micro Focus: History
- ^ Micro Focus buys Intersolv for $534 million
- ^ Financial Dynamics wins Micro Focus equity listing
- ^ Micro Focus scrapes home after price cut
- ^ Micro Focus completes acquisition of NetManage, Inc, Reuters, http://www.reuters.com/article/pressRelease/idUS172535+18-Jun-2008+BW20080618, retrieved 2009-10-11
- ^ Microfocus Company Background
- ^ a b "Annual Report 2007". Micro Focus. http://investors.microfocus.com/mcro/investor-info/reports/2007/ar2007/ar2007.pdf. Retrieved 2008-05-11.
- ^ "Annual Report 2005". Micro Focus. http://investors.microfocus.com/mcro/investor-info/reports/annrep05/annrep05.pdf. Retrieved 2008-05-11.
External links
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