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RNS Number : 7461R 
Micro Focus International plc 
06 May 2009 
 

 6 May 2009 
 
 
Micro Focus International plc announces strong pre-close; Adjusted 
EBITDA expected to increase 30% year on year. 
Two significant acquisitions to address strategically adjacent $2bn Application 
Testing / Automated Software Quality (ASQ) market 
 
 
Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), the 
Enterprise Application management and modernization software company, provides a 
pre-close update on trading for the twelve months to 30 April 2009. 
 
 
Micro Focus delivered a solid fourth quarter and second half year performance. 
Full year adjusted EBITDA is expected to be in the range of US$115 million to 
US$117 million resulting in adjusted EBITDA margins of approximately 42% and 
considerably ahead of last year's 38.8% (FY2008: US$88.5 million). 
 
 
Total Group revenues are expected to grow year on year by approximately 20% 
(FY2008: US$228.2 million). Excluding the beneficial impact of acquisitions, the 
Group expects to achieve double digit organic revenue growth in the core 
business at constant currency.  Cash balances as at 30 April 2009 were 
approximately US$70 million. 
 
 
In separate announcements today, Micro Focus has announced a recommended cash 
offer to acquire Borland Software Corporation ("Borland") and an agreement to 
acquire the Application Testing / Automated Software Quality (ASQ) business of 
Compuware Corporation, including all related customer contracts, sales, support 
and development infrastructure and all relevant staff, ("Compuware Testing and 
ASQ Business"). Acquiring Borland and the Compuware Testing and ASQ Business 
will give Micro Focus a leading market position in the highly complementary 
Application Testing / ASQ market. This market is estimated to be worth c.US$2 
billion a year and is logically adjacent to Micro Focus' core application 
management and modernization business. The move into the ASQ market is 
consistent with Micro Focus' stated strategy of extending in logically adjacent 
segments to expand its addressable market. 
 
 
For the twelve month period to 31 December 2008, Borland achieved revenues of 
US$172 million and in the twelve month period to 31 March 2009 the Compuware 
Testing and ASQ Business achieved revenues of US$74 million. Borland is being 
acquired for approximately US$75 million in cash and the Compuware Testing and 
ASQ Business for approximately US$58 million (US$80 million gross consideration 
less approximately US$22 million of cash receivable from Compuware Corporation, 
the majority of which is receivable on completion of the transaction). 
 
 
Both acquisitions are fully financed and are being funded from existing Micro 
Focus cash resources supplemented by a new three year revolving credit facility 
of US$175 million provided through a syndicated loan consortium comprising 
Barclays, HSBC, Lloyds and RBS. Full details of each acquisition, including the 
conditions to which they are subject, are provided in separate press releases. 
 
 
 
 
 
 
 
 
Stephen Kelly, Chief Executive Officer of Micro Focus International plc, 
commented: 
 
 
"Micro Focus has experienced a strong close to the fourth quarter and I am 
delighted with the current market relevance and resilience of the Group. The 
strength of the core business, combined with the success of the three 
acquisitions made during FY2009 delivered an excellent scorecard for Micro 
Focus. Looking forward, the acquisitions announced today position Micro Focus 
well for significant further future growth." 
 
 
"Acquiring Borland and the Compuware Testing and ASQ Business is consistent with 
our strategy outlined in 2006 of combining organic growth with selective 
acquisitions to extend our addressable market and drive further growth in both 
revenues and profits. Borland and the Compuware Testing and ASQ Business are 
complementary to each other and to the Micro Focus core business. The 
acquisitions will provide the enlarged group with meaningful scale in the 
attractive global Application Testing/ASQ market." 
 
 
Further details in relation to the acquisitions are provided in the separate 
announcements made by Micro Focus today. 
 
 
Enquiries: 
+--------------------------------------+---------------------------------+ 
| Micro Focus                          | Tel: +44 (0)1635 32646          | 
+--------------------------------------+---------------------------------+ 
| Stephen Kelly, Chief Executive       |                                 | 
+--------------------------------------+---------------------------------+ 
| Nick Bray, Chief Financial Officer   |                                 | 
+--------------------------------------+---------------------------------+ 
| Tim Brill, Head of Corporate         |                                 | 
| Communications & IR                  |                                 | 
+--------------------------------------+---------------------------------+ 
| Financial Dynamics                   | Tel: +44 (0)20 7831 3113        | 
+--------------------------------------+---------------------------------+ 
| Charles Palmer /Haya Chelhot/ Nicola |                                 | 
| Biles                                |                                 | 
+--------------------------------------+---------------------------------+ 
 
 
Notes to editors: 
 
 
About Micro Focus 
 
 
Micro Focus, a member of the FTSE 250, provides innovative software that allows 
companies to dramatically improve the business value of their enterprise 
applications. Micro Focus Enterprise Application Modernization and Management 
software enables customers' business applications to respond rapidly to market 
changes and embrace modern architectures with reduced cost and risk. For 
additional information please visit www.microfocus.com 
 
 
 
 
About Borland 
 
 
Founded in 1983, Borland (NASDAQ: BORL) is the leading vendor of Open 
Application Lifecycle Management (ALM) solutions - open to customers' processes, 
tools and platforms - providing the flexibility to manage, measure and improve 
the software delivery process. To learn more about maximizing the business value 
of software, visit http://www.borland.com. 
 
 
 
 
 
 
 
About Compuware 
 
 
Founded in 1973, Compuware provides software, experts and best practices to 
ensure applications work well and deliver business value. Its unique approach, 
Business Service Delivery, helps CIOs optimize end-to-end application 
performance for leading businesses around the world, including 46 of the top 50 
Fortune 500 companies. Learn more at www.compuware.com. 
 
 
This communication is being made in respect of a proposed transaction involving 
Micro Focus and Borland.  In connection with the proposed transaction, 
Borland will file with the Securities and Exchange Commission a proxy statement, 
and Borland plans to file with the SEC other documents regarding the proposed 
transaction.  INVESTORS AND SECURITY HOLDERS OF BORLAND ARE ADVISED TO READ THE 
PROXY STATEMENT AND OTHER FILED DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE 
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. 
Investors and security holders may obtain a copy of the proxy statement (when 
available) and other documents filed with the SEC by Micro Focus and Borland 
free of charge at the SEC's website at www.sec.gov.  Investors and security 
holders of Borland may also obtain copies of the proxy statement (when 
available) and other documents filed with the SEC by Borland free of charge from 
Borland by directing a request to Borland, Attention:  Borland Investor 
Relations, Borland Software Corporation, 8310 North Capital of Texas Highway, 
Building 2, Suite 100, Austin, TX 78731, or by going to Borland's website at 
www.borland.com. 
Borland and its directors and executive officers, may be deemed to be 
participants in the solicitation of proxies in respect of the proposed 
transaction.  Information regarding Borland's directors and executive officers 
is contained in Borland's annual proxy statement filed with the SEC on April 8, 
2009.  Additional information regarding the interests of such potential 
participants will be included in the proxy statement and the other relevant 
documents filed with the SEC (when available). 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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