|
|
|
Micro Focus (MFGP) US stock issues: Micro Focus Stock Cash payouts and sale to OpenText. Micro Focus Issues (Sep 1, 2023) Website operated by volunteers. Not officially endorsed or supported. Question? Email: info@hpalumni.org How to get your LinkedIn profile to show the correct company for each position. LinkedIn Tips & Traps - Positions Contacts: Micro Focus UK and U.S. Headquarters [scroll down] Other countries: https://www.microfocus.com/about/contact/ Micro Focus is a completely separate company – not a legal successor to EDS or HPE. Which HP-related companies have me classified as a retiree or former employee? Due to acquisitions and spinoffs, this may not be obvious. Check here: Which Company Employment verification and experience letters for Hewlett-Packard, Hewlett Packard Enterprise, and related companies. Employment and Experience Verification Received a "Potential Private Retirement Benefit" letter from Social Security? How to decode the letter and who to contact, if necessary: Potential Benefit letter If you have stock records or paper stock certificates for Micro Focus. Sale of Micro Focus to OpenText. Micro Focus Stock For those who transitioned to Micro Focus: - 401(k) Members report that the next 401(k) match payout was to be on the date of their transition. - Classified as a former employee or retiree of HPE. Treated as though you left HPE to join any other company. Entitled to whatever retiree coverage you qualified for at the time you left HPE. - Some HPE retirees are covered by an HP retiree medical program. Depending on age, years of service, and other factors, you may qualify for the HP "Pre-2003 HP Retiree Medical Program" -- instead of an HPE program. ("2003" refers to the year when HP implemented the program, not necessarily your year of retirement.) Legally retirees of HPE. However, HPE has paid HPInc to administer health benefits for those HPE retirees. (All other responsibilities for HPE retirees are handled by HPE.) How to tell if you are qualified for Pre-2003: https://www.hpalumni.org/Pre2003 Fortune article summarizing breakup of Hewlett-Packard into HPInc, Hewlett Packard Enterprise, DXC, and Micro Focus. "Transaction valued at approximately $8.8 billion, including 50.1% ownership of the new combined company by HPE shareholders and a $2.5 billion cash payment to HPE." --original Sep 7, 2016 HPE announcement Pre-spinoff diagram of Micro Focus product history, including the product lines being acquired from HPE -- ArcSight, Autonomy, Mercury, Opsware, Peregrine, Tower, Vertica -- with the original HP acquisition price for each. MicroFocus-HPES Portfolio 4/1/17 Article about the original deal in The Register [British IT news site "The Register" -- motto: "Biting the Hand that Feeds IT"] Micro Focus sold the Atalla hardware security business (formerly part of HPE) Announcement Also sold the profitable 1,400-employee SUSE Linux business (formerly part of Novell) for $2.5 billion in cash. Announcement Financial Times The Register March and April, 2019: Under pressure from a hedge-fund investor, Micro Focus sold the profitable 1,400-employee SUSE Linux business (formerly part of Novell) for $2.5 billion in cash. Sale Completed "Micro Focus Sells Profitable Bits" [British IT news site "The Register"] Micro Focus was bought for cash by OpenText. UK-based Micro Focus (NYSE American Depositary Shares: MFGP) purchased for cash by Canada-based OpenText (NASDAQ: OTEX.) Cash payment 532 UK pence (approx US$6.43) per share -- almost double the market price before announcement. Details of payout: https://otp.tools.investis.com/clients/uk/micro_focus1/rns/regulatory-story.aspx?cid=108&newsid=1665079 OpenText will "...reduce the workforce by approximately 8%... Micro Focus embarked on an acquisition spree... including Borland, Attachmate Group, and HPE’s Software biz... ...revenue for the 12 months ended 31 October was down 7 percent... Good luck to all involved." OpenText completes Micro Focus buy OpenText is funding the deal with $4.6 billion in new debt, $1.3 billion in cash, and $0.6 billion in revolving credit.
"Shares in Micro Focus jump on news of £5bn Canadian takeover deal"
"Resting place of Novell -- and one-time home to SUSE -- finds new life
in the Great White North" Operated by volunteers. Not officially endorsed or supported. More about the HPAA |
|
|
Helping each other with life after HP and HPE: Website Index Forums
Independent, member-supported volunteer association. Not officially endorsed or supported. © 2024 Hewlett-Packard Alumni Association, Inc. By using this site you accept these terms.