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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff

Shares in Micro Focus jump 90% on news of £5bn Canadian takeover deal

Micro Focus OpenText United States Nasdaq Hewlett Packard Enterprise London
Micro Focus logo behind person looking at phone
Shares in Micro Focus, which has struggled since its takeover of Hewlett Packard Enterprise’s software division in 2017, have almost doubled. Photograph: Rafael Henrique/Sopa Images/Rex/Shutterstock

One of the few remaining British technology firms listed in London is to pass into foreign ownership after a Canadian software provider on Thursday night announced a £5bn deal.

Shares in IT firm Micro Focus surged more than 90% on Friday after it revealed it was set to be snapped up by OpenText in a deal expected to be completed in the first quarter of 2023.

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