from the June 2008 issue

UK co Micro Focus buys NetManage for $73.3m.

British software company Micro Focus International plc (LSE: MCRO) has acquired Israeli software developer NetManage Inc. (Nasdaq: NETM) at $7.20 per share for a total of $73.3 million.

The transaction was made at a premium of 73% on NetManage's closing price of $4.15. The companies expect to close the deal in June.

Micro Focus makes enterprise application management and modernization solutions, while NetManage develops solutions for transforming transform legacy applications into new Web-based business solutions. The consolidation will enable the companies to create a better software legacy modernization product.

Micro Focus said that it expects $226-228 million revenue for the fiscal year ending on April 30, 2008. NetManage has a market cap of $40 million.

Reprinted from the Israel High-Tech & Investment Report June 2008

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