Micro Focus prepares for private owner, turnaround still WIP
Summary
Unaudited fiscal 2022 financial results for Micro Focus indicate that potential new owner OpenText still has some work to do to convert the app and infrastructure management software house into a growth engine. London Stock Exchange (LSE) listed Micro Focus today revealed revenue for the 12 months ended 31 October was down 7 percent – in constant currency, the only figure detailed – to $2.5 billion. • Another UK tech company bought out: Schneider Electric grabs rest of Aveva • openSUSE Leap 15.4: The best desktop on the RPM side of the Linux world • Micro Focus tells investors it will appeal against $172.5m patent infringement case "To date, demand has remained robust in the face of an increasingly volatile market backdrop, demonstrating the importance of our solutions to customers," the CEO added. It involves spending more on R&D, improving sales channels, hiring more staff, revamping training programs, modernizing its own internal tech infrastructure, switching more license business to SaaS and pushing more deeply into big data and security. Tom Kennedy, analyst at Megabuyte, said that although the "headline" figures show declining revenue and EBITDA," the story behind the numbers is more of Micro Focuss continued transition away from licenses and support to a SaaS-based model.