The company will utilize Micro Focus' software to "support customers' growing needs to digitize and work smarter," according to a prepared statement.
This is technology M&A deal number 25 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
OpenText, founded in 1991, is based in Waterloo, Canada. The company has 15,109 employees listed on LinkedIn. OpenText's areas of expertise include information management, cloud computing and analytics.
Micro Focus, founded in 2009, is based in Newbury, United Kingdom. The company has 9,613 employees listed on LinkedIn. Micro Focus' areas of expertise include security, application deliver and IT operations.
Previously, OpenText announced plans to acquire Micro Focus in August 2022.
OpenText Expands Offerings
Micro Focus expands OpenText's corporate mission to "help enterprise professionals secure their operations, gain more insight into their information and better manage an increasingly hybrid and complex digital fabric," OpenText CEO Mark J. Barrenechea said. It allows OpenText to deliver new information management software across several areas, including:
- Digital operations management
- Applications modernization and delivery
- Artificial intelligence and analytics
Organizations will be able to use this software to digitally transform their operations, drive growth and reduce their costs, Barrenechea indicated.
OpenText Partners with Cybersecurity Companies, Explores M&As
The Micro Focus acquisition follows OpenText announcing cybersecurity partnerships in 2022 with Allstate Identity Protection and MSSP MAD Security. Together, OpenText and Allstate offer identity protection services to customers of Webroot, a cybersecurity and threat intelligence provider and OpenText company.
Comparatively, MAD Security is using OpenText's Network Detection and Response (NDR) technology to help organizations guard against cyber threats and prevent false-positive security alerts.
Meanwhile, OpenText maintains "a structured and disciplined approach to M&A," Barrenechea noted. The company has a "defined integration plan," Barrenechea said, and expects company growth and expanded cash flows.
OpenText has a Global Partner Program that allows MSSPs, MSPs and other technology providers to incorporate the company's solutions and products into their portfolios. OpenText works with more than 1,000 partners.