Information set forth in this press release, oral statements made regarding the spin-off or the merger (together, the Transaction), and other information published by HPE may contain certain statements about HPE, Seattle or Micro Focus that constitute or are deemed to constitute forward-looking statements (including within the meaning of the U.S. With the industrys most comprehensive portfolio, spanning the cloud to the data center to the intelligent edge, our technology and services help customers around the world make IT more efficient, more productive and more secure. Hewlett Packard Enterprise is an industry leading technology company that enables customers to go further, faster.
#What is micro focus update
HPE will provide this update when it reports its fiscal 2017 third quarter earnings results on Tuesday, September 5, 2017. HPE to Update Financial Outlook on Tuesday, September 5 thĪs a result of the transaction, HPE will adjust its fiscal year 2017 financial outlook to reflect the partial-year contribution from Seattle, since Seattle will no longer contribute to HPE financials going forward. In addition, HPE is entitled to nominate 50% of the independent directors on the Micro Focus board until the second annual general meeting of Micro Focus shareholders that occurs following the completion of the transaction. In connection with the completion of the transaction, John Schultz, Executive Vice President, General Counsel and Corporate Secretary of HPE, joined the board of directors of Micro Focus.
The spin-off of Seattle is intended to qualify as a generally tax-free transaction for U.S. This cash payment, together with the equity of Micro Focus received by HPE stockholders in the merger, implies an enterprise value of Seattle of approximately $8.8 billion. Prior to the completion of the transaction, HPE received a $2.5 billion cash payment from Seattle. This equity stake in Micro Focus is valued at approximately $6.3 billion, based on the closing price of Micro Focus ordinary shares on the London Stock Exchange as of market close on August 31, 2017. Immediately following the merger, HPE stockholders held approximately 222 million Micro Focus ADSs, representing 50.1% of Micro Focus ordinary shares on a fully diluted basis. Each Micro Focus ADS represents one Micro Focus ordinary share. With the close of the transaction, HPE stockholders received 0.13732611 American Depositary Shares of Micro Focus (Micro Focus ADSs) for each share of HPE common stock held as of the record date of August 21, 2017.
#What is micro focus software
(Seattle), which holds the software business of HPE that was spun off, merged with a wholly owned subsidiary of Micro Focus. Transaction Delivers $8.8 Billion in Value to HPE and its Stockholders
And Aruba has software embedded across its networking portfolio, from policy management to data analytics to cyber security. HPEs Infosight predictive analytics software detects and addresses performance issues across customers storage systems. For example, HPEs Oneview platform offers a seamless, software-defined, hybrid IT management system. Software remains core to HPEs strategy and is embedded deeply across its portfolio, helping customers manage, monitor and measure their infrastructure systems. And third, providing the world-class expertise and flexible consumption models to help customers transform their IT environments. Second, powering the intelligent edge that runs campus, branch and IoT applications.
HPEs go-forward strategy is based on three key pillars: First, making Hybrid IT simple through secure, software-defined offerings that enable customers to move data seamlessly across their on-premises data centers, private cloud, managed cloud and public cloud environments. Software-Defined Infrastructure Remains Core to HPEs Strategy
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