OpenText has closed the previously announced acquisition of Micro Focus International. The total purchase was approximately $US5.8 billion, and OpenText states it expects Micro Focus will be on the “OpenText operating model” within 6 full quarters or sooner.

A company spokesperson told Web site The Register there will be an approximately 8 percent reduction to the workforce of the combined company following the acquisition, equating to around 2,000 staff.

Announcing the company's 2023 Q2 results, OpenText revealed its cloud services and subscriptions rose 12% year-over-year in the quarter, to $US408.7 million, while customer support revenue fell 18%, to $US316.5 million.

OpenText CEO & CTO Mark J. Barrenechea, said, “With this acquisition, OpenText’s corporate mission expands to help enterprise professionals secure their operations, gain more insight into their information, and better manage an increasingly hybrid and complex digital fabric with a new generation of tools that include Cybersecurity, Digital Operations Management, Applications Modernization & Delivery and AI & Analytics.

“This new generation of Information Management software will help organizations accelerate their digital transformation and drive growth while reducing costs.”

“We have a structured and disciplined approach to M&A. The last six months of planning has led us to a defined integration plan to deliver on our committed outcomes.

"We are ready and excited about winning the Information Management market, strong customer outcomes, and company growth and expanded cash flows,” concluded Barrenechea.