Total revenues for the full year are expected to be in the range of $226 million to $228 million.
These expected results reflect a combination of improved operational performance and the positive impact of exchange rate movements. Micro Focus expects to report underlying organic growth, at constant currency, for the period of approximately 15%.
On 1st May 2008, the same day as the pre-close statement, Micro Focus announced a recommended cash offer of US$7.20 per share for the entire issued and to be issued share capital of NetManage, the NASDAQ-listed software provider of technologies to transform core applications into new Web-based business solutions. The offer values NetManage at approximately US$73.3 million. The transaction is conditional upon NetManage’s minimum cash balance, immediately prior to closing, being at least $25 million. The Board of Micro Focus believes that combining the businesses of Micro Focus and NetManage will further strengthen Micro Focus’s position as a leading player in the fast growing, highly fragmented Application Modernization market.
